Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
BOE VARITRONIX LIMITED
(Incorporated in Bermuda with limited liability)
(Stock Code: 710)
GRANT OF AWARDED SHARES PURSUANT TO
THE SHARE AWARD PLAN
Reference is made to the announcement of BOE Varitronix Limited (the "Company") dated 28 August 2020 (the "Announcement") relating to the adoption of share award plan on 28 August 2020. Unless otherwise defined, capitalized terms used herein shall have the same meanings as those defined in the Announcement.
The Board has granted a total of 6,310,000 Awarded Shares to 72 Selected Participants, comprising 5 Directors and 67 employees of the Group, pursuant to the Plan. A summary of such grant is set out below:
Date of grant | : | 29 March 2021 |
Closing price of the Shares on the date of | : | HK$3.23 per Shares |
grant | ||
Consideration of the Award Shares granted | : | Nil |
Vesting date of the Award Shares | : | |
Approximate percentage of the Awarded | : | |
Shares to the total number of issued Shares | ||
as at the date of this announcement |
(i) the first 40% of the Awarded Shares to be vested on 28 April 2021;
(ii) the second 30% of the Awarded Shares to be vested on 28 April 2022; and
(iii) the remaining 30% of the Awarded Shares to be vested on 28 April 2023.
0.86%
Details of the Selected Participants are set out below: | |
Name of Selected Participants | Number of Awarded Shares |
Executive Director: | |
Ko Wing Yan, Samantha | 500,000 |
Su Ning | 500,000 |
Independent non-executive Director: | |
Fung, Yuk Kan Peter | 100,000 |
Chu, Howard Ho Hwa | 100,000 |
Hou Ziqiang | 100,000 |
1,300,000 | |
5,010,000 | |
6,310,000 |
Sub-total:
Employees of the Group
Total:In accordance with the Plan and subject to the terms of the Trust Deed, the Awarded Shares shall be purchased and held by the Trustee until they are vested and transferred to the Selected Participants.
The grant of Awarded Shares to the above Directors, who have met the fulfilment of the vesting conditions as set out in the grant notice and the Plan, forms part of their remuneration packages and is therefore fully exempt from the reporting, announcement and independent shareholders' approval requirements under Rules 14A.73(6) and 14A.95 of the Listing Rules. Each of the above Directors has abstained from voting on the board resolution approving the grant of Awarded Shares to that Director was concerned.
By order of the Board BOE Varitronix Limited
Gao Wenbao Chairman
Hong Kong, 29 March 2021
As at the date of this announcement, the Board comprises nine Directors, of whom Mr. Gao Wenbao, Ms.
Ko Wing Yan, Samantha and Mr. Su Ning are executive Directors, Mr. Shao Xibin, Mr. Jin Hao and Ms.
Zhang Shujun are non-executive Directors, and Mr. Fung, Yuk Kan Peter, Mr. Chu, Howard Ho Hwa and Mr. Hou Ziqiang are independent non-executive Directors.
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BOE Varitronix Limited published this content on 29 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 March 2021 10:53:05 UTC.