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845

A limit on the size of each scheme, the maximum entitlement for each class or category of participant (where applicable), and the maximum entitlement for any one participant (where applicable) must be stated. For SGX Main Board issuers, the following limits must not be exceeded:—

(1) The aggregate number of shares available under all schemes must not exceed 15% of the total number of issued shares excluding treasury shares and subsidiary holdings from time to time;
(2) The aggregate number of shares available to controlling shareholders and their associates must not exceed 25% of the shares available under a scheme;
(3) The number of shares available to each controlling shareholder or his associate must not exceed 10% of the shares available under a scheme;
(4) The aggregate number of shares available to directors and employees of the issuer's parent company and its subsidiaries must not exceed 20% of the shares available under a scheme; and
(5) The maximum discount under the scheme must not exceed 20%. The discount must have been approved by shareholders in a separate resolution.

Amended on 31 March 201731 March 2017.