Meihao Group (01947) announced that the company has decided to adopt a share award scheme on January 16, 2024. The purpose of the share award scheme is to recognize the contributions of a number of eligible participants and provide them with rewards to retain them to help the Group's continued operation and development; and attract suitable personnel to further develop the Group.
According to the announcement, the company's current stock price seriously underestimates the company's business performance and potential value, and is a good opportunity to acquire shares to meet future share rewards under the plan. The board of directors believes that the acquisition of shares as an incentive to achieve share rewards under the share award scheme will create value for shareholders, and that the Group's current financial situation enables the company to provide the necessary capital to the trustee to carry out share acquisitions while maintaining sufficient financial resources to maintain the continued growth of the Group's business.
Furthermore, on January 16, 2024, in accordance with the recommendation of the Remuneration Committee, the board of directors decided to grant a total of 24 million bonus shares to the four selected Group employees free of charge, subject to acceptance by the grantor, and such reward shares will be settled using existing shares purchased from the open market by the trustee using internal resources provided to them by the trustee.