Annual Report & Accounts 2009 - Notes to the Financial Statements
7. OTHER CREDITORS
This amount mainly corresponds to costs incurred by the Company relating to professional fees and
There were no employees during the year.
9. COMMITMENTS AND CONTINGENCIES
On December 2, 2004, the Group established a share option programme that entitles key
management personnel and senior employees to purchase shares in the Group. On December 21,
2004, a grant was made to two non-executive directors and on September 28, 2005, a grant was
made to other eligible individuals under the programme. On 23 January 2006 and 16 May 2006,
grants were made to eligible individuals under the programme. During 2007 and 2008, additional
grants were made to eligible individuals under the programme.
In accordance with these programmes, options are exercisable at a set price, normally the market
price, of the shares at the date of grant. Options vest and become exercisable as to one quarter on
the first anniversary of the date of grant with the balance vesting and becoming exercisable in 36
equal monthly installments over the subsequent three years.
As of December 31, 2009, 1,954,590 (2,723,359 as of December 31, 2008) share options were
outstanding and no share option had been exercised under this programme.