Page 135 - China Mobile Limited - Annual Report 2012

China Mobile Limited
Annual Report 2012
129
Notes to the Financial Statements
(Expressed in Renminbi unless otherwise indicated)
35 Equity Settled Share-Based Transactions (Continued)
The Stock Exchange of Hong Kong Limited (the “HKEx”) requires that the exercise price of options to be at least the
higher of the nominal value of a share, the closing price of the shares on the HKEx on the date on which the option
was granted and the average closing price of the shares on the HKEx for the five trading days immediately preceding
the date on which the option was granted.
For options granted under the Current Scheme, the exercise price of options shall be determined by the directors of
the Company at their discretion provided that such price may not be set below a minimum price which is the highest
of:
(i) the nominal value of a share;
(ii) the closing price of the shares on the HKEx on the date on which the option was granted; and
(iii) the average closing price of the shares on the HKEx for the five trading days immediately preceding the date on
which the option was granted.
Under the Current Scheme, the term of the option is determined by the directors at their discretion, provided that all
options shall be exercised within 10 years after the date on which the option is granted.
(a) The terms and conditions of the grants that existed during the years are as follows,
whereby all options are settled by physical delivery of shares:
Number of instruments Contractual
life of options 2012 2011 Vesting conditions
Options granted to
directors
– on 3 July 2002 – 7,000 50% two years from
the date of grant,
50% five years from
the date of grant
10 years
– on 28 October 2004 473,175 473,175 40% one year from
the date of grant,
30% two years from
the date of grant,
30% three years from
the date of grant
10 years