Page 68 - China Mobile Limited - Annual Report 2012

China Mobile Limited
Annual Report 2012
62
Report of Directors
Under the vesting conditions on the options under the Aspire Scheme:
(i) 50% of any options granted are exercisable: (a) 2 years after the time of commencement of employment (or the
appointment as director) of the relevant Aspire Participant (in the case of options specified in the employment contract
with the relevant Aspire Participant) or (in other cases) the date on which the Aspire Participant is offered with the
option or (b) after listing of Aspire, whichever is later; and
(ii) the remaining 50% of such options are exercisable 3 years after the initial 50% of the options become exercisable.
As at 31 December 2012, the employees of Aspire had the following personal interests in options to subscribe for shares of
Aspire granted under the Aspire Scheme.
No. of shares
involved in
the options
outstanding at
the beginning
of the year
No. of shares
involved in the
outstanding
at year end
Date on which
options were
granted
Normal period
during which
options are
exercisable
No. of shares
involved in the
options lapsed
during the year
Exercise
price
US$
Employees of Aspire* 3,460,000 3,420,000 18 February 2003 (Note 2) 40,000 0.298
160,000 160,000 18 April 2003 (Note 2) – 0.298
1,280,000 1,280,000 16 September 2003 (Note 2) – 0.298
775,000 775,000 18 March 2004 (Note 2) – 0.298
45,000 45,000 28 May 2004 (Note 2) – 0.298
5,680,000 (Note 1)
* During the year ended 31 December 2012, no share options have been granted under the Aspire Scheme to any of the directors or chief executive of the
Company.
Notes:
(1) The total number of shares involved in the options outstanding at the end of the year represents 0.6% of the issued share capital of Aspire as at the date
of this annual report.
(2) (a) The initial 50% of the options granted to a particular employee are exercisable between the period:
– commencing on the later of:
(i) 2 years after the commencement of employment of that employee or the option offer date (as the case may be); or
(ii) the listing of the shares of Aspire; and
– ending on the date falling 10 years from the option grant date; and
(b) the remaining 50% of such options shall be exercisable between the period commencing 3 years after the initial 50% of the options become
exercisable and ending on the date falling 10 years from the option grant date.