Summary by Moomoo AI
China Transport Construction Co., Ltd. (“China Deliverance”) announced on 24 February 2024 that it has completed on 21 February 2024 the reserved grant registration of the 2022 Restrictive Share Incentive Scheme involving 1,645 million shares. The incentive scheme was designed to incentivise 132 middle managers and the backbone, awarding a price of RMB5.06 per share at a total cost of approximately RMB5,675.25 million. The restricted shares granted will be waived in three lots and will be valid for a maximum period of 72 months. Following this award, the Company's total share capital increased from 1,626,366.1425 million shares to 1,628,011.1425 million shares, and the controlling shareholders' equity ratio decreased slightly to 57.58% from 57.64%. The funds raised will be used entirely to supplement liquidity and are expected to have little impact on net profit for each year during the effective period.