Summary by Moomoo AI
NEW LIFE INTERNATIONAL DEVELOPMENT LIMITED ANNOUNCED THAT ITS SUBSIDIARY, NOVA SCOA ENTERTAINMENT, ISSUED ON APRIL 3, 2024 (US EASTERN TIME) A RESTRICTED SHARE OF APPROXIMATELY 373 MILLION SHARES OF US PRE-REGISTERED SHARES TO ITS CONTRACTORS UNDER THE SHARE AWARD SCHEME, EQUIVALENT TO APPROXIMATELY 1122 MILLION SHARES OF NOVA SCOA ENTERTAINMENT. On the same day, Novo BoA Entertainment also granted a number of underwriters to purchase approximately 60 million shares of US Preferred Stock, equivalent to approximately 181 million shares of Novo BoA Entertainment. The license is designed to motivate employees and management, and there is no performance target or refund mechanism. The restricted shares granted will be divided into three batches between 2025 and 2027, and the call option has a 10-year exercise period. THE REMUNERATION COMMITTEE OF NEW YORK-BASED BOA ENTERTAINMENT BELIEVES THIS WILL HELP ATTRACT AND RETAIN TALENT AND BE CONSISTENT WITH THE COMPANY'S INTERESTS. Novo BoA Entertainment recorded audited pre-tax losses of approximately $11 billion and $4 billion in fiscal 2022 and fiscal 2023, respectively, and audited net negative assets of approximately $8.4 billion.