ESR AR 2019 EN

113 DIRECTORS’ REPORT ESR Annual Report 2019 (xvi) Outstanding options granted under the Tier 1 ESOP As at 31 December 2019, options to subscribe for an aggregate of 24,699,543 Shares, representing approximately 0.81% of the issued shares of the Company, are outstanding. Details of the movement of the options and holders are set out below: Name of Participant held at 1 November 2019 exercised during the Period cancelled during the Period held at 31 December 2019 Executive Director Mr Jinchu Shen (Notes a, c) 3,899,928 – – 3,899,928 Mr Charles Alexander Portes and Mr Stuart Gibson (Note b, c) 16,899,687 – – 16,899,687 20,799,615 – – 20,799,615 WP OCIM 3,899,928 – – 3,899,928 24,699,543 – – 24,699,543 Note: (a) The options are granted to Laurels Capital Investments Limited. Laurels Capital Investments Limited is wholly owned by The Shen Trust. In respect of The Shen Trust, the settlor is Rosy Fortune Limited (the sole shareholder of which is Mr Jinchu Shen). Mr Jinchu Shen has a deemed interest under the SFO in the options held by The Shen Trust solely in his capacity as the sole shareholder of the settlor of The Shen Trust. (b) The options are granted to Redwood Consulting (Cayman) Limited. Redwood Consulting (Cayman) Limited is owned as to 50.0% and 50.0% by Mr Charles Alexander Portes and Mr Stuart Gibson, respectively. Hence each of Mr Charles Alexander Portes and Mr Stuart Gibson is deemed to be interested in options held by Redwood Consulting (Cayman) Limited. (c) The options are granted on 20 April 2017 at exercise price of US$0.46. The vesting period of above outstanding options is vested daily on a straight line basis to 20 January 2021. No further options will be issued under the Tier 1 ESOP in the future. No share options lapsed or were exercised or cancelled from the listing date to 31 December 2019.