Disclosure Document

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..... es may go down or go up. In addition, employee stock options are subject to the following additional risks: 1. Concentration: The risk arising out of any fall in value of shares is aggravated if the employee s holding is concentrated in the shares of a single company. 2. Leverage: Any change in the value of the share can lead to a significantly larger change in the value of the option as an .....

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..... in a format similar to that required under item B(1) of Part II of Schedule II of the Companies Act. The last audited accounts of the company should also be provided unless this has already been provided to the employee in connection with a previous option grant or otherwise. 3. Risk Factors: Management perception of the risk factors of the company in accordance with item VIII of Part I of Sche .....

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..... n administrator (whether the company itself or an outside securities firm appointed for this purpose) provides advisory services to the option grantees in connection with the exercise of options or sale of resulting shares, such advice must be accompanied by an appropriate disclosure of concentration and other risks. The option administrator should conform to the code of conduct appropriate for su .....

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