Summary by Moomoo AI
XINYI GLASS ANNOUNCED ON 1 MARCH 2024 THAT IT HAS GRANTED 37,500,000 SHARE OPTIONS TO ITS EMPLOYEES UNDER THE SHARE OPTION PLAN ADOPTED ON 15 JANUARY 2015. The exercise price of each share option is HK$8.04, the same as the closing price on the day. The share option will be divided into three batches based on the achieved performance targets, namely 31 December 2024, 2025 and 2026. The exercise of the share option shall be from 1 April 2027 to 31 March 2028. This is intended to recognise and reward employees' contributions to the Group and to encourage their long-term service to the Group. The Board of Directors stated that the scheme helps align the interests of employees with those of the company and shareholders. THE COMPANY EMPHASIZES THAT ALL ASSIGNEES OF THE SHARE PURCHASE RIGHTS ARE EMPLOYEES OF THE COMPANY AND DO NOT REQUIRE SHAREHOLDER APPROVAL. Following the grant of the share option, there are 76,432,205 shares available for future issuance under the share option plan.