From the date of the acquisition, Loinette Capital Limited contributed MUR 37.0m of net operating income and MUR 7.4m of profit after tax from continuing operation to the Group. The non controlling interest has been measured using proportionate basis. Had the acquired subsidiary been consolidated from 1 October 2022, the revenue from continuing operation of the Group would have been MUR 95.7m and the profit after tax from continuing operation would have been MUR 22.9m. 37 EVENTS AFTER REPORTING DATE On 20 December 2023 the Board of Directors of CFSL has declared a final dividend of MUR 0.38 per share (total amounting to MUR 258.6m) payable in respect of all ordinary shares of CFSL. 38 EMPLOYEE OPTION PLAN The establishment of the CIM Financial Services Ltd (the ‘Company’) Employee Share Option Scheme (‘ESOS’) was approved by shareholders on 11 February 2022 and first batch of options was made available in November 2022 and a second batch in December 2022. The grant date of the ESOS is deemed to be the date when the company makes the offer and the employee accepts the offer by signing the contract. The ESOS is designed to provide long-term incentives for the Company’s members of its executive committee and management committee (including executive directors) to deliver and create long-term shareholder value. Under the plan, participants are granted options which only vest if certain service conditions standards are met. Participation in the plan is at the board’s discretion, and no individual has a contractual right to participate in the plan or to receive any guaranteed benefits. The amount of options that will vest depends on the Company’s members of Executive Committee and Management Committee have satisfied the service conditions of 3 years. Once vested, the options remain exercisable, in whole or in part, through two (2) specific windows namely (i) a period of 14 day following the publication of the 6 monthly interim reports of the Company and (ii) a period of 14 days following the publication of the preliminary 12 months reports of the Company over a period of 5 years from the Vesting Date. Beyond this period, the Option to subscribe to the Option Shares shall lapse. Options are granted under the Scheme for no consideration and will rank pari passu in all respects with existing ordinary shares issued, including voting purposes and in full for all dividends and distributions on ordinary shares declared. When exercisable, each option is convertible into one ordinary share 14 days after the release of the half-yearly and annual financial results of the Company to the market. The exercise price of options is based on the weighted average price at which the Company’s shares are traded on the Stock Exchange of Mauritius over the last 3 months prior to the announcement of the annual performance bonus (adjusted to reflect any change in capital structure), less a discount, which does not exceed 25%. Set out below are summaries of options granted under the plan: 2023 2022 Average exercise price per share option Number of options Average exercise price per share Number of options As at 01 October – – – – Granted during the year 8.12 2,571,667 – – Exercised during the year * – – – – Forfeited during the year 8.12 211,667 – – As at 30 September 8.12 2,360,000 – – Vested and exercisable at 30 September 8.12 2,360,000 – – * The weighted average share price at the date of exercise of options exercised during the year ended 30 September 2023 was MUR 8.12 (2022 – not applicable). No options expired during the periods covered by the above tables. Share options outstanding at the end of the year have the following expiry dates and exercise prices: 193 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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