STAMFORD TYRES CORPORATION LIMITED
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DRIVING IT UP
Directors’ interests in shares and debentures (cont’d)
By virtue of Section 7 of the Act, Mr Wee Kok Wah and Mrs Dawn Wee Wai Ying are deemed to have an interest
in the ordinary shares of all the subsidiary companies at the beginning and at the end of the financial year.
No other director who held office at the end of the financial year had interests in shares or debentures of the
Company’s subsidiary companies.
Directors’ contractual benefits
Except as disclosed in the financial statements, since the end of the previous financial year, no director of the
Company has received or become entitled to receive a benefit by reason of a contract made by the Company
or a related corporation with the director, or with a firm of which the director is a member, or with a company in
which the director has a substantial financial interest.
Arrangements to enable directors to acquire shares and debentures
Except as disclosed below, neither at the end of nor at any time during the financial year was the Company a
party to any arrangement whose objects are, or one of whose objects is, to enable the directors of the Company
to acquire benefits by means of the acquisition of shares or debentures of the Company or any other body
corporate.
Share options to subscribe for ordinary shares
On 22 June 2001, the shareholders approved the STC Share Option Scheme 2001 (the “Scheme”). The
Scheme was open to full-time confirmed employees, executive and non-executive directors, but not controlling
shareholders or their associates of the Company, and entitled the option holders to exercise their options and
subscribe for new ordinary shares in the Company either at the market price or at a price set at a discount not
exceeding 20% of the market price. Market price was equal to the average last dealt price of the share for 3
consecutive trading days immediately preceding the offer date.
Options granted with the exercise price set at market price could be exercised after the third anniversary of the
offer date. Executive options granted under the Scheme were exercisable for a period of 10 years whereas non-
executive options were exercisable for a period of 5 years from the offer date.
The total number of shares that may be issued should not exceed 15% of the issued share capital of the
Company.
Directors’ Statement
(Cont’d)
