Summary by Moomoo AI
KYOTO LOGISTICS ANNOUNCED ON 1 JANUARY 2024 THAT IT HAS AWARDED 2,593,294 BONUS SHARES TO THE GROUP'S EMPLOYEES (EXCLUDING DIRECTORS AND SENIOR MANAGEMENT) UNDER THE INITIAL PUBLIC OFFERING SHARE AWARD SCHEME, REPRESENTING APPROXIMATELY 0.04% OF THE TOTAL NUMBER OF SHARES ISSUED. The market price of the award shares is HK$9.78 per share and the grant price is zero. The allotment period for these shares is 0.5 to 4 years, of which 18,202 shares are compensatory share awards without accompanying performance targets. The purpose of the award is to align employees' interests with those of the company and to encourage them to contribute to the long-term growth and profits of the company. The grant does not require shareholder approval and will not raise funds through the issuance of new shares. The new shares will have the same rights as the issued shares, but the trustee may not exercise voting rights on the shares held in trust.