Fraser & Neave Holdings Bhd Annual Report 2021

16. CAPITAL AND RESERVES #CONTINUED$ #C$ SHARE GRANTS UNDER F&NHB SHARE GRANT PLANS #CONTINUED$ The Company has in place share-based remuneration incentive plans, details of which are as follows: (continued) (ii) The F&NHB Share Grant Plan 2021 (“F&NHB SGP 2021”) was approved by shareholders of the Company at the Extraordinary General Meeting held on 19 January 2021 and was implemented on 11 February 2021. The F&NHB SGP 2021 is valid for 10 years from 11 February 2021 to 10 February 2031. Under F&NHB SGP 2021, the Company grants a base number of conditional share awards (the “F&NHB Base Awards”) to eligible participants annually. The F&NHB Base Awards represent the right to receive fully paid ordinary shares of the Company, their equivalent cash value or combinations thereof, free of charge, provided that certain prescribed performance conditions are met over the relevant performance periods. The Remuneration Committee, as the administrator of F&NHB SGP 2021, has absolute discretion in granting the F&NHB Base Awards and determining the performance period and the vesting period. Depending on the level of achievement of the pre-determined targets over the performance period, an achievement factor will be applied to the relevant F&NHB Base Awards to determine the final number of shares to be awarded at the end of the performance period. Having been deferred from end 2020, F&NHB RSP Year 10 Award was granted on 15 February 2021 under F&NHB Share Grant Plan 2021. Please see above note (i) on F&NHB RSP Year 10 Award. The details of the shares awarded under F&NHB SGP 2012 and F&NHB SGP 2021 in aggregate are as follows: Number of share grants Vesting period At 1.10.2020/ grant date Adjustment for achievement factor Vested * Lapsed At 30.9.2021 F&NHB SGP 2012 F&NHB RSP Year 6 (22.12.2016) 61,950 – (61,650) (300) – 31.12.2018- 31.12.2020 F&NHB RSP Year 7 (22.12.2017) 128,900 – (64,150) (10,625) 54,125 31.12.2019- 31.12.2021 F&NHB RSP Year 8 (22.12.2018) 213,600 (60,700) (76,450) (12,450) 64,000 31.12.2020- 31.12.2022 F&NHB RSP Year 9 (23.12.2019) 495,900 (194,750) – (106,400) 194,750 31.12.2021- 31.12.2023 900,350 (255,450) (202,250) (129,775) 312,875 F&NHB SGP 2021 **F&NHB RSP Year 10 (15.02.2021) 384,200 – – (62,400) 321,800 31.12.2022- 31.12.2024 1,284,550 (255,450) (202,250) (192,175) 634,675 * Share grants lapsed upon cessation of employment. ** The performance period for F&NHB RSP Year 10 remains at two years. The first tranche of F&NHB shares pursuant to this grant (being 50% of the relevant F&NHB Final Awards) will be vested to participants after the end of the two-year performance period. The balance 50% will be vested in equal instalments over the following two years. 214 NOTES TO THE F INANCIAL STATEMENTS