Zhitong Financial APP, Haud Holdings (08149) announced that the company adopted the existing share option plan on October 17, 2016 (the date on which the shares began to be listed in GEM), and the plan came into effect on that date for a period of ten years.
Since 2018, the company has awarded share awards to recognize and reward the contributions of selected employees of the Group and to retain and motivate them to contribute to the continued operation and development of the Group. In the past (i.e. before January 1, 2023) share awards were not granted under the share option scheme under Chapter 23 of the GEM listing rules.
According to the consultation conclusion, the share plan requirements set out in Chapter 23 of the GEM listing rules have been amended with effect from 1 January 2023. In order to comply with the amendment to Chapter 23 of the GEM listing rules, the Directors consider that it is in the best interests of the Company and shareholders to terminate the existing share option Scheme from the date of adoption of the 2023 share Plan and to adopt the 2023 share Plan to comply with the latest requirements specified in the GEM listing rules.
On January 5, 2023, the company was in a position to grant a total of 240000 award shares to two selected employees of the Group. The award shares are intended to be issued and allotted to the two selected employees after the necessary approval has been granted by the shareholders at the forthcoming EGM. In view of the adoption of the 2023 share Plan and for ease of management, the Company and the above two selected employees agreed to terminate the conditional grant of 240000 Award shares on 14 July 2023.
After the necessary approval for the adoption of the 2023 share plan has been granted by shareholders at the upcoming special general meeting, the board of directors has decided to conditionally grant a total of up to 10.36 million award shares to seven selected employee participants (including the two selected employees who have agreed to terminate the 240000 award shares previously granted). It accounts for about 12.75% of the maximum number of shares that may be issued on exercise of all options granted at any time under the 2023 share Plan. Or the issued share capital of the company as at the date of this announcement is approximately 1.2775%.