KA SHUI INT'L recommends adopting a new stock option plan and a new share award plan
KA SHUI INT'L recommends adopting a new stock option plan and a new share award plan to encourage eligible participants to enhance the value of the company and its shares. The existing stock option plan has been effective since 2017, with 36.96 million unexercised stock options remaining. The new plan aims to provide opportunities for acquiring ownership in the company and to motivate participants to contribute to the company's success
According to the announcement from KA SHUI INT'L (00822), the existing share option scheme was adopted by the company on May 19, 2017, and is valid for ten years from the date of adoption. Under the terms of the existing share option scheme, the company may terminate the existing share option scheme at any time by resolution at a shareholders' meeting. In this case, no further share options may be granted, but the provisions of the existing share option scheme will remain in effect to allow any share options granted or that may need to be exercised under the provisions of the existing share option scheme before termination to continue to be exercised. Share options granted under the existing share option scheme before termination shall remain valid and may be exercised in accordance with the rules of the existing share option scheme.
As of the date of this announcement, there are 36.96 million share options granted under the existing share option scheme that have not yet been exercised. From the date of this announcement until the date of the special shareholders' meeting, the board of directors intends not to grant any further share options under the existing share option scheme.
The company proposes to adopt a new share option scheme. The purpose of the new share option scheme is to provide eligible participants with the opportunity to acquire ownership interests in the company and to encourage eligible participants to enhance the value of the company and its shares, thereby benefiting the company and its shareholders as a whole, as well as to incentivize eligible participants to contribute to the success of the group's business.
In accordance with the latest provisions of Chapter 17 of the Listing Rules, the company proposes to adopt a new share award scheme, which will constitute a share award scheme for granting awards by the company. The purpose of the new share award scheme is to provide eligible participants with the opportunity to acquire ownership interests in the company and to encourage eligible participants to enhance the value of the company and its shares, thereby benefiting the company and its shareholders as a whole, as well as to incentivize eligible participants to contribute to the success of the group's business
