Summary by Moomoo AI
Issue-a-Friend Holdings Limited (stock code: 1450) announced on April 10, 2024 that it has granted a total of 15,169,920 shares of bonus shares to 199 selected participants under the Share Award Scheme. The award is designed to recognize and motivate employees who contribute to the growth and development of the company, and to attract and retain talent to facilitate the continued operation and development of the business. The bonus shares are divided into two batches, the first batch of 8,569,920 shares awarded to 193 junior to mid-level employees and the second batch of 6,600,000 shares to 6 senior employees and managers. The allotment period and minimum holding period of the bonus shares are based on the achievement of performance targets and there is no purchase price. The Board of Directors believes that this will help improve employees' business performance and will not result in significant cash outflows.