ST Engineering Annual Report 2020

DIRECTORS' STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) SHARE PLANS The Executive Resource and Compensation Committee (ERCC) is responsible for administering the ST Engineering Share Plans. The ERCC members are Mr Kwa Chong Seng (Chairman), Mr Lim Sim Seng and Mr Lim Chin Hu. Shareholders approved the adoption of the PSP2020 and the RSP2020 (collectively, the 2020 Share Plans) at the 23rd Annual General Meeting (AGM) held on 15 May 2020. The 2020 Share Plans replaced the PSP2010 and the RSP2010 (collectively, the 2010 Share Plans), both of which expired on 20 April 2020. The expiry of the 2010 Share Plans did not affect the awards under the 2010 Share Plans which were granted prior to such expiry, whether such awards had been released to participants (whether fully or partially) or not. As at 31 December 2020, no participants have received shares pursuant to the release of awards granted under the: • 2010 Share Plans which, in aggregate, represent 5% or more of the total number of shares available under the 2010 Share Plans collectively; and • 2020 Share Plans which, in aggregate, represent 5% or more of the total number of shares available under the 2020 Share Plans collectively. In relation to the ST Engineering Share Plans: • no share awards have been granted to controlling shareholders of the Company or their associates; • the persons to whom the share awards were granted have no right by virtue of these awards to participate in any share issue of any other company; • the disclosure requirements in Rule 852(1)(c) of the SGX-ST Listing Manual relating to the grant of options to directors and employees of the parent company and its subsidiaries is not applicable; and • the disclosure requirements in Rule 852(1)(d) of the SGX-ST Listing Manual relating to the grant of options at a discount is not applicable. Except as otherwise disclosed in this Directors’ Statement, there were no share options or share awards granted by the Company to any person to take up unissued shares of the Company. 13 3 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT