106 CSE Global Limited Share options and Performance Share Plan (cont’d) (b) The maximum number of ordinary shares in the capital of the Company (“Shares”) that the Company may grant under the Performance Share Plan shall not exceed 5% of the total number of issued Shares (excluding Treasury Shares) of the Company on the day immediately preceding the date on which the contingent award of Shares under the Performance Share Plan (“Award”) shall be granted. The Company shall purchase existing Shares for transfer to Participants in respect of the Awards. No new Shares will be issued by the Company pursuant to the Awards. In addition, the total number of Shares that may be transferred or are transferable pursuant to the granting of the Awards on any date (which shall not exceed 5% of the total number of issued Shares, excluding Treasury Shares, of the Company on the day immediately preceding the date on which the Award shall be granted), when added to the aggregate number of Shares that are issued or are issuable in respect of such other share-based incentive schemes of the Company (if any), shall not exceed 15% of the total number of issued Shares (excluding Treasury Shares) of the Company on the day immediately preceding the date of grant of the Award. (c) Awards may only be vested and consequently any Shares comprised in such Awards shall only be delivered upon the Remuneration Committee being satisfied that the Participants has achieved the Performance Target(s)3 and that the Vesting Period4 (if any) has expired provided always that the Remuneration Committee shall have the absolute discretion to determine the extent to which the Shares under that Award shall be released on the prescribed Performance Target(s) being satisfied (whether fully or partially) or exceeded, as the case may be, at the end of the prescribed performance period. No Shares under the Award shall be released for the portion of the prescribed Performance Target(s) that is not satisfied by the Participant at the end of the prescribed performance period. (d) During the financial year under review, awards comprising of 3,193,023 shares have been awarded under the Performance Share Plan. The awards in respect of 3,193,023 shares were also vested on the date of grant. The awards were satisfied by the delivery of existing shares purchased from the market to the participants as permitted under the Performance Share Plan. (e) Performance shares awarded, vested and outstanding at the end of the financial year were as follows: Shares awarded during financial year Aggregate shares awarded since commencement of CSE Performance Share Plan to 31.12.2024 Aggregate shares vested since commencement of CSE Performance Share Plan to 31.12.2024 Aggregate share award outstanding as at 31.12.2024 Participant who received more than 5% of the total grant available Director Lim Boon Kheng(1) 1,915,814 7,921,506 7,921,506 − Participant (other than Director) who received more than 5% of the total grant available Other participants(1) 1,277,209 5,436,751 5,436,751 − (1) The shares awarded were subjected to a moratorium period of 1 to 5 years from the date of grant against any disposal or sale and/or other dealings in the Shares. 3 Performance Target(s) refers to the performance target(s) prescribed by the Remuneration Committee to be fulfilled by a Participant for any particular period under the Performance Share Plan. 4 In relation to an Award, Vesting Period refers to a period or periods of time before vesting occurs, the duration of which is to be determined by the Committee at the date of the grant of the Award. DIRECTORS’ STATEMENT For the financial year ended 31 December 2024
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