FAIRWOOD HOLD canceled 3.33 million unexercised stock options and granted 5.5 million new stock options
FAIRWOOD HOLD announced the cancellation of 3.33 million unexercised stock options and the granting of 5.5 million new stock options. Due to the exercise price of the existing stock options being higher than the market price, the willingness of holders to exercise has decreased. The exercise price of the new stock options is HKD 5.470 per share, of which 2.14 million have been granted to executive directors, and the remainder to other employees. This move requires the consent of the holders and approval from independent shareholders
According to the announcement from FAIRWOOD HOLD (00052), as of the date of this announcement, 220,000 of the 3.75 million existing stock options have expired under the terms of the stock option plan, with no stock options exercised, and the remaining 3.53 million stock options are exercisable.
Due to the exercise price of the unexercised stock options being relatively high compared to the current market price of the shares, the willingness of the holders of the unexercised stock options to exercise them has decreased, thus failing to achieve the incentive purpose for the current holders.
On July 11, 2025, the company's board of directors decided to cancel 3.33 million unexercised stock options, subject to the consent of the current holders. Among the 3.33 million unexercised stock options, 1.04 million options were granted to Mr. Luo Huicheng – the vice chairman and executive director of the company, as well as the contact person for Mr. Luo Kaiyang, the company's major shareholder, chairman of the board, and non-executive director.
On July 11, 2025, the company has invited the grant of 5.5 million new stock options to some current holders and other employees of the group to subscribe for 5.5 million shares. Part of these stock options is used to replace the canceled unexercised stock options, but they must be accepted by each of them according to the stock option plan and approved by the company's independent shareholders (if applicable) to take effect. The exercise price of the new stock options is HKD 5.470 per share.
Among the 5.5 million newly invited stock options, 2.14 million options have been granted to the company's executive directors, and the remaining 3.36 million new stock options have been granted to other employees of the group
