Page 60 - SAR141018_Forterra AR 2013

FORTERRA
ANNUAL REPORT 2013
REPORT OF THE TRUSTEE-MANAGER
OF FORTERRA TRUST
58
Details on the Forterra Substitution Options granted to the Directors of the Trustee-Manager,
participants who are Controlling Unitholders and participants who have received five per cent or more
of the total number of Forterra Options (formerly known as TCT Options) available under the Forterra
Unit Option Scheme are as follows:
Name of Participant Number of Units
comprised in
Forterra Options
granted during
the financial year
under review
(including terms)
Aggregate
number of Units
comprised in
Forterra Options
and Forterra
Substitution
Options
granted since
commencement
of the Scheme
to the end of the
financial year
under review
Aggregate
number of Units
comprised in
Forterra Options
and Forterra
Substitution
Options
exercised since
commencement
of the Scheme
to the end of the
financial year
under review
Aggregate
number of Units
comprised in
Forterra Options
and Forterra
Substitution
Options
outstanding as
at the end of the
financial year
under review
New Precise Holdings Limited
(Controlling Unitholder) – 3,050,000 – 3,050,000
Richard Anthony DAVID
(Resigned as Director and
CEO of the Trustee-Manager
on 10 October 2013) – 1,825,000 – 1,825,000
The Trust was formally admitted to the Official List of the Singapore Exchange Securities Trading
Limited (“SGX-ST”) on 21 June 2010 by way of introduction. The number of share options granted to
Richard Joseph BARRETT exceeded 10% of the shares available under the CREO Share Scheme. Such
share options were replaced by the equivalent Forterra Options under the Forterra Unit Option Scheme.
Notwithstanding the number of Units available to Richard Joseph BARRETT exceeded 10% of the Units
available under the Forterra Unit Option Scheme, the participation of Richard Joseph BARRETT in
the Forterra Unit Option Scheme was disclosed in the introductory document dated 21 June 2010 and
approved at the Extraordinary General Meeting of CREO held on 7 June 2010.
On 28 August 2013, the Unit Option Scheme Committee approved the assignment of 3,050,000 Forterra
Options from Richard Joseph BARRETT and Rory John WILLIAMS to New Precise Holdings Limited,
and the extension of the exercise periods of all other Forterra Options under the Unit Option Scheme
currently in issue by a year. Rory John WILLIAMS elected to surrender his 750,000 Forterra Options on
28 August 2013. Richard Anthony DAVID, who resigned as Director and CEO of the Trustee-Manager on
10 October 2013, retained his Forterra Options through their original expiration date with the approval
of the Unit Option Scheme Committee on 29 October 2013.