According to Zhitong Finance App, Langhua International Group (08026) issued an announcement. On the date of this announcement, the company has an existing share option plan. The plan was adopted by the company on September 10, 2021, and is valid and effective for 10 years from the date of adoption. Other than the existing share option plan, the Company did not implement any other share plan as of the date of this announcement.
As amendments to Chapter 23 of the GEM Listing Rules came into effect on January 1, 2023, with the aim of providing greater flexibility for long-term plans to grant share options and/or share awards to provide appropriate incentives or rewards to its employees and directors, the Board recommended discontinuing the existing share option scheme and adopting a share award scheme.
The Board of Directors recommended the adoption of a share award scheme valid for 10 years from the date of adoption to recognize and recognize the contributions that eligible participants have made or may have made to the Group and to reward eligible participants with outstanding performance, and to provide rewards to eligible participants to motivate them to improve performance and efficiency and attract and retain eligible participants for the benefit of the Group.
On January 19, 2024, according to the share award plan to be submitted to the special shareholders' meeting for consideration and adoption, the company conditionally awarded rewards involving a total of 72.8619 million bonus shares to a total of 9 grantees (all employee participants), but only after the shareholders' approval to adopt the share award plan and the share award plan becomes unconditional and effective. Among the conditionally awarded awards, awards involving a total of 8.744,400 award shares have been awarded to Executive Director Ms. Zhang.