China Communications Services Corporation Limited Annual Report 2015
147
NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2015
38. SHARE APPRECIATION RIGHTS SCHEME
(continued)
In March 2012, the Company’s Board of Directors approved the adjustment of the exercise price of the first batch of the
first phase share appreciation rights from HKD4.92 per unit to HKD4.66 per unit and of the granted amount to 39.3 million
share appreciation right units, and approved the adjustment of the exercise price of the second batch of the first phase
share appreciation rights from HKD4.53 per unit to HKD4.28 per unit and of the granted amount to 74.1 million share
appreciation right units.
In March 2013, the Company’s Board of Directors approved the adjustment of the exercise price of the first batch of the
first phase share appreciation rights from HKD4.66 per unit to HKD4.51 per unit, and approved the adjustment of the
exercise price of the second batch of the first phase share appreciation rights from HKD4.28 per unit to HKD4.13 per unit.
In March 2015, the Company’s Board of Directors approved the adjustment of the exercise price of the second phase share
appreciation rights from HKD3.41 per unit to HKD2.93 per unit.
During the year ended 31 December 2015, RMB13 million was credited (2014: RMB74 million charged) to profit or loss
arising from the fair value remeasurement of the accrued compensation liability at the end of the reporting period. At 31
December 2015, the Group has recorded liabilities of RMB53 million (2014: RMB66 million).
The total of 113.4 million share appreciation right units of the first phase share appreciation rights have been exercised in
2013. As at 31 December 2015, 132.2 million share appreciation right units of the second phase share appreciation rights
can be exercised, the rest of the second phase share appreciation rights are not vested.
39. COMMITMENTS AND CONTINGENT LIABILITIES
(a) Capital commitments
As at 31 December 2015, the Group had capital commitments for acquisition and construction of property, plant and
equipment and other non-current assets as follows:
2015
2014
RMB’000
RMB’000
Contracted for but not provided
317,445
118,586
