105 Annual Report 2024 DIRECTORS’ STATEMENT For the financial year ended 31 December 2024 Directors’ interests in shares and debentures The following directors, who held office at the end of the financial year, had, according to the register of directors’ shareholdings required to be kept under Section 164 of the Companies Act 1967, an interest in shares and share options of the Company and related corporations (other than wholly-owned subsidiaries), as stated below: Held by Director Other shareholdings in which the Director is deemed to have an interest Name of Director At 1.1.2024 At 31.12.2024 At 21.1.2025 At 1.1.2024 At 31.12.2024 At 21.1.2025 Ordinary shares of the Company Lim Boon Kheng * 907,429 2,823,243 2,823,243 19,121,600 19,680,663 19,680,663 Tan Chian Khong ** – – – 60,000 64,235 64,235 Tan Teck Koon 144,000 174,164 174,164 – – – * Lim Boon Kheng is deemed to be interested in (i) 7,971,352 shares held by Citibank Nominees Singapore Pte. Ltd.; (ii) 113,400 shares held by United Overseas Bank Nominees (Private) Limited; and (iii) 11,595,911 shares held by HSBC (Singapore) Nominees Pte Ltd. ** Tan Chian Khong is deemed to be interested in 64,235 shares held by DBS Nominees Pte Ltd. Except as disclosed in this statement, no director who held office at the end of the financial year had interests in shares, share options, warrants or debentures of the Company or of related corporations, either at the beginning of the financial year, or at the end of the financial year. Share options and Performance Share Plan There is currently no share option scheme on unissued shares of the Company. The Company has implemented a share-based long term incentive plan known as CSE Performance Share Plan (“Performance Share Plan”) in lieu of an existing cash plan on 20 April 2017. The duration of the Performance Share Plan is 10 years commencing 20 April 2017. The Performance Share Plan is administrated by the Remuneration Committee (formerly known as Compensation Committee), namely Messrs Wong Su Yen, Ng Shin Ein and Tan Teck Koon. Details of the Performance Share Plan are as follows: (a) All employees of the Group who are of the age of 18 years and above and Executive Directors of the Company, who, in the opinion of the Remuneration Committee, have contributed or will contribute to the success of the Group (collectively known as the “Participants”), shall be eligible to participate in the Performance Share Plan subject to the absolute discretion of the Remuneration Committee. Persons who are Controlling Shareholders1 and their Associates2 and directors and employees of associated companies shall not be eligible to participate in the Performance Share Plan. 1 Controlling Shareholder refers to a person who (a) holds directly or indirectly 15% or more of the total number of issued Shares excluding Treasury Shares in the Company (unless SGX-ST determines such person is not a controlling shareholder); or (b) in fact exercises control over the Company 2 In the case of a Company, (a) in relation to any director, chief executive officer, Substantial Shareholder, being a person (including a corporation) who has an interest (direct or indirect) in 5% or more of the total issued Shares of the Company, or Controlling Shareholder means his immediate family, the trustees of any trust of which he or his immediate family is a beneficiary and any company in which he and his immediate family together (directly or indirectly) have an interest of 30% or more; (b) in relation to a Substantial Shareholder or a Controlling Shareholder (being a Company) means any other company which is its subsidiary or holding company or is a subsidiary of such holding company or one of the equity of which it and/or such other company or companies taken together (directly or indirectly) have an interest of 30% or more
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