SMM Network News: September 9, country Garden Service Holdings Co., Ltd. notice revealed that the proposed adoption of the share option scheme.
It is understood that the ultimate purpose of the main terms of the share option scheme is to promote the long-term and stable development of country Garden services by providing eligible participants with the opportunity to obtain shares in country Garden services. At the same time, incentives or rewards will be provided for eligible participants to contribute to country Garden services, so as to enhance their ability to attract and retain people with outstanding skills and rich experience.
According to the announcement, the eligible participants are current employees, executives or officers of country Garden Services, and any Director (including non-executive Directors and independent non-executive Directors) or the Board or its authorized person in its sole discretion, consultants, consultants or business partners of any member who has contributed or will contribute to the country Garden service.
Under the share option scheme, the maximum number of shares that may be issued will be 82.78 million shares, equivalent to approximately 3.00% of the total number of issued shares on the adoption date (assuming that there is no change in the total number of shares issued during the period from the date of this announcement to the adoption date). And equivalent to approximately 2.91% of the expanded issued share capital of country Garden Services (assuming that all options that may be granted under the share option Scheme have been exercised).
The maximum number of shares that may be issued under the share option Scheme and any other share option scheme that has not been exercised but has not been exercised shall not exceed 30% of the total number of shares issued from time to time, and will cause the relevant limit to be exceeded, no share options shall be granted under the share option Scheme and any other share option scheme of country Garden Services.
At the same time, unless approved by the shareholders, the shares issued and to be issued by any eligible participant during the period of 12 months up to the date of the relevant grant (including those that have been exercised, cancelled or not yet exercised) shall not exceed 1% of the total number of shares in issue on the date of grant. In the case of share options, the grantee may exercise options under the share option scheme for a period not exceeding five years from the date of grant and shall be subject to the terms of the share option scheme.
In terms of vesting conditions, on the relevant vesting date, the eligible participant holds office at country Garden Services or any other entity specified in the letter of share offer, as the case may be, the net profit of country Garden Services in the relevant financial year is equivalent to 38% or more of the increase in net profit in the immediately preceding financial year; the relevant grantee has achieved the individual annual performance target set by country Garden Services in the relevant financial year.
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