On April 3, Gelonghui Group (02230.HK) issued an announcement. The board of directors decided to grant Zhao Xiaofeng (the company's executive director and related person) a total of 4.98 million directors' award shares free of charge. These directors' award shares took effect on March 28, 2024 and are vested in Zhao Xiaofeng. There are no specific conditions or lock-up restrictions for directors' awards of shares.
The Board of Directors resolved to award a total of 4.346 million bonus shares (“Employee Award Shares”) to 23 eligible persons who are employees of the Company. The award shares will be vested in the 23 employees effective March 28, 2024. There are no specific conditions or lock-up restrictions for employee stock awards.
From December 1, 2023 to March 28, 2024, the trustee purchased a total of 9.155 million shares on the market for use in the share award scheme and award of reward shares. After awarding and vesting 4.346 million directors' award shares to Zhao Xiaofeng on March 28, 2024, and 4.346 million employee award shares to 23 employees, and the purchase of shares, the trustee's remaining 72.24 million shares should be considered public ownership according to the listing rules.