FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 321 01 02 05 03 07 06 04 08 09 ANNUAL INTEGRATED REPORT 2018 EXAMINED OUR NUMBERS 55 LONG TERM INCENTIVE PLAN (CONTINUED) During the financial year, 11,666,800 RS (2017: 5,342,400 RS) under the LTIP were granted to eligible employees of the Group. Subject to the terms and conditions of the By-Laws, the employees shall be awarded ordinary shares in the Company, after meeting the vesting conditions as set out in the letter of offer for the shares under the LTIP. The RS granted during the financial year on 1 June 2018 has a three years vesting period where the first vesting date was on 30 September 2018. The fair value of share price at grant date was RM1.484. The first RS granted on 1 July 2016 has a three years vesting period and the first vesting date was on 31 March 2017. The fair value of share price at grant date was RM1.413. Movement in the number of RS Grant under the LTIP is as follows: 2018 Number of shares grants over ordinary share Grant date Outstanding as at 1.1.2018 Granted Vested (Forfeited) Outstanding as at 31.12.2018 1 July 2016 578,800 - (211,900) (149,900) 217,000 1 June 2018 - 11,666,800 (3,240,700) (85,600) 8,340,500 2017 Number of shares grants over ordinary share Grant date Outstanding as at 1.1.2018 Granted Vested (Forfeited) Outstanding as at 31.12.2018 1 July 2016 814,500 - (209,200) (26,500) 578,800 12 July 2017 - 5,342,400 (5,080,300) (262,100) -