Summary by Moomoo AI
Apollo Smart Travel Group Limited (the “Company”) granted to its employees on February 27, 2024 up to 4800 million share options at an exercise price of HK$0.554 per share for a period of 10 years. Adopted on 30 June 2023, the share option scheme aims to encourage employees to contribute to the company and retain talent. THE GRANT OF SHARE OPTIONS IS NOT INTENDED FOR PERFORMANCE, BUT HAS A ROLLBACK MECHANISM IN PLACE TO DEAL WITH SIGNIFICANT ERRORS IN FINANCIAL STATEMENTS, EMPLOYEE FRAUD OR MISCONDUCT. The Remuneration Committee considers that this move is in line with market practice and is beneficial to the long-term development of the company. Upon issuance, approximately 0.01% of the remaining shares are available for future issuance under the plan authorization limits of the Share Option Plan.