Gelonghui March 21 | Times Angel (06699.HK) announced that shareholders conditionally approved and adopted the initial public offering restricted share unit plan after sale on May 20, 2021, which was revised on June 29, 2023 and expired on May 19, 2024. The purpose of the initial public offering restricted share unit scheme is to recognize the contributions of the grantees and provide incentives to retain them to continue to participate in the Group's continued operation and development, and to attract the right personnel to further develop the Group.
The main changes resulting from the proposed amendments to the initial public offering restricted share unit after sale scheme are set out below. (a) Extend the term of the initial public offering restricted share unit plan from three (3) years from the date of adoption to ten (10) years from the date of adoption; (b) extend the award period under the initial public offering restricted share unit scheme from no more than three (3) years from the date of award to no more than ten (10) years from the date of award; and (c) increase the limit of the restricted share unit plan from 1,658,071 shares to 3,381,955 shares on the revised date 2%
Furthermore, shareholders conditionally approved and adopted the initial public offering after-sales share option plan on May 20, 2021, which was revised on June 29, 2023, and will expire on May 19, 2024. The purpose of the initial public offering after-sales share option scheme is to attract, retain and encourage employees, directors and other relevant participants, and to thank them for their contributions to the Group's development and profit through the granting of share options in accordance with the terms of such plans, and to allow such employees, directors and others to participate in the Group's development and profit.
The main changes resulting from the proposed revisions to the initial public offering after-sales share option plan are set out below. (a) Extend the term of the initial public offering after-sales share option plan from three (3) years from the date of adoption to ten (10) years from the date of adoption; (b) extend the share option period under the initial public offering after-sales share option plan from no more than three (3) years from the date of grant of the share option to no more than ten (10) years from the date of grant of the share option; and (c) increase the initial public offering after-sales share option plan limit from 6,632,284 shares to 10,145,867 shares, equivalent to the revised date The number of shares issued is approximately 6%.