Rongyang Industrial (02078) issued an announcement. On March 1, 2024, the company adopted the plan rules (revised and...
According to Zhitong Finance App, Rongyang Industrial (02078) issued an announcement. On March 1, 2024, the company adopted the scheme rules (revised and re-listed) to revise the share award plan.
The share award scheme was adopted on March 3, 2014. Unless terminated early by the board of directors in accordance with the share award scheme rules, the share award scheme is valid for ten years from the date of adoption. As of the date of this announcement, there were no unexercised rewards in the share award scheme; and 595,000 shares were held by the trustee in trust for the purpose of the share award scheme.
According to the rules of the share award scheme, the share award scheme may be changed in any aspect through a resolution of the board of directors, but such changes shall not adversely affect any surviving rights of any selected employee.
The purpose of the share award scheme is to recognize and encourage the contributions of a number of employees, to retain their continued effectiveness in the Group's operation and development as part of the Group's talent retention plan; and to attract suitable talents to further promote the Group's development.
To fulfill the incentive after ownership, the company may direct the trustee to purchase or acquire existing shares on the market or from the company (as the case may be) in accordance with the company's instructions, subject to the terms and conditions (if any) of the trust agreement.
During the entire period of the share award scheme, on the date of revision, the maximum number of shares the trustee can purchase must not exceed 5% (5%) of the company's issued share capital, or 60 million shares. Unless terminated early by the board of directors in accordance with the share award scheme rules, the share award scheme is valid for ten years from the date of adoption and ends on the 10th anniversary of the revised date.