HC TECH GP recommends adopting a new stock option plan
HC TECH GP announced that it recommends adopting a new stock option plan to replace the existing stock option plan approved on May 31, 2019. The new plan aims to provide the company with a flexible way to retain, motivate, and reward eligible participants. The stock options granted under the existing stock option plan will remain valid until termination. The board does not intend to grant further stock options before the shareholders' meeting
According to the announcement from HC TECH GP (01116), the existing share option scheme was adopted through a shareholder resolution on May 31, 2019, and is valid and effective for a period of 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 through a resolution at a shareholders' meeting. In this case, no further share options may be granted; however, the terms of the existing share option scheme shall remain in effect and valid for the exercise of any share options granted prior to its termination or as otherwise specified in the provisions of the existing share option scheme. Share options granted under the existing share option scheme prior to termination will continue to be valid and may be exercised in accordance with the rules of the existing share option scheme.
The board of directors does not intend to grant any further share options under the existing share option scheme from the date of this announcement until the date of the upcoming shareholders' meeting.
The company proposes to adopt a new share option scheme in accordance with the latest provisions of Chapter 17 of the Listing Rules published by The Stock Exchange of Hong Kong Limited in July 2022. The new share option scheme aims to provide the company with a flexible way to retain, incentivize, reward, compensate, and/or provide benefits to eligible participants
