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.
IGG INC
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 799)
GRANT OF AWARDED SHARES UNDER THE SHARE AWARD SCHEME
On 6 May 2021, based on the recommendation of the remuneration committee of the Company, the Board resolved to grant a total of 3,192,565 Awarded Shares, which have been acquired by the Trustee from the open market by utilising the Company's internal resources provided to the Trustee, to (i) nine Share Award Grantees, who are Directors; and (ii) 14 Share Award Grantees, who are employees of the Group pursuant to the Share Award Scheme at nil consideration, subject to the acceptances by the Share Award Grantees. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, save for the Share Award Grantees who are Directors as disclosed above, each of the other Share Award Grantees is a third party independent of the Company and its connected persons.
The grant of the Awarded Shares to the Directors has been approved by the Board (including all three independent non-executive Directors, save and except for the relevant Director who is a Share Award Grantee whom has abstained from voting in relation to the grant of awarded shares to himself/herself). The grant of the Awarded Shares to the Directors also forms part of their remuneration packages under their respective service contracts with the Company, and is therefore exempt from the reporting, announcement and independent shareholders' approval requirements under Rule 14A.73(6) and Rule 14A.95 of the Listing Rules.
The 3,192,565 Awarded Shares to be granted to the Share Award Grantees represent approximately 0.27% of the issued share capital of the Company as at the date of this announcement. The 3,192,565 Awarded Shares represent the value of approximately HK$38.12 million, taking into account of the closing price of HK$11.94 per Share as stated in the daily quotation sheets issued by the Stock Exchange on the Date of Grant.
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Details of the Share Award Grantees are set out below: | |
Number of | |
Share Award Grantees | Awarded Shares |
Employees of the Group | 207,565 |
Directors | |
Mr. Zongjian Cai | 746,000 |
Mr. Yuan Xu | 579,000 |
Mr. Hong Zhang | 493,000 |
Ms. Jessie Shen | 544,000 |
Mr. Feng Chen | 391,000 |
Mr. Yuan Chi | 82,000 |
Dr. Horn Kee Leong | 72,000 |
Mr. Dajian Yu | 39,000 |
Ms. Zhao Lu | 39,000 |
Total | 3,192,565 |
The details of the Awarded Shares granted are as follows:
The Awarded Shares granted shall vest in the Share Award Grantees in accordance with the schedules below (for this purpose, the date or each such date on which the Awarded Shares are to vest being hereinafter referred to as a "Share Award Vesting Date"):
Awarded Shares granted to Directors
Among the 3,192,565 Awarded Shares granted, 2,985,000 Awarded Shares, which were granted to the Directors, shall be subject to a vesting period as follows:
Share Award Vesting Date | Percentage of Awarded Shares to Vest |
On the date of the annual general | 50% of the total number of Awarded Shares granted |
meeting to be convened in 2022 | |
On the date of the annual general | 50% of the total number of Awarded Shares granted |
meeting to be convened in 2023 |
Awarded Shares granted to certain employees
Among the 3,192,565 Awarded Shares granted, 85,550 Awarded Shares, which were granted to certain employees, shall be subject to a vesting period as follows:
Share Award Vesting Date | Percentage of Awarded Shares to Vest |
On 6 May 2022 | 50% of the total number of Awarded Shares granted |
On 6 May 2023 | 50% of the total number of Awarded Shares granted |
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Other Awarded Shares
The remaining 122,015 Awarded Shares which were granted to certain employees shall be subject to a vesting period as follows:
Share Award Vesting Date | Percentage of Awarded Shares to Vest |
On 6 May 2022 | 25% of the total number of Awarded Shares granted |
On 6 May 2023 | 25% of the total number of Awarded Shares granted |
On 6 May 2024 | 25% of the total number of Awarded Shares granted |
On 6 May 2025 | 25% of the total number of Awarded Shares granted |
Once vested, at the request of the relevant Share Award Grantees, the Awarded Shares can be transferred to the relevant Share Award Grantees from the Trustee, or the Trustee can sell the vested Awarded Shares for them and subsequently transfer the income arising from such sales to the relevant Share Award Grantees.
DEFINITIONS
In this announcement, the following expressions shall have the following meanings unless the context requires otherwise:
"Awarded Shares"The 3,192,565 awarded Shares granted to the Share Award Grantees pursuant to the Share Award Scheme on the Date of Grant
"Board"
"Company"
"connected persons"
"Date of Grant"
"Director(s)"
"Group"
"HK$"
"Listing Rules"
"Share Award Grantee(s)"
the board of Directors of the Company
IGG Inc, an exempted company incorporated in the Cayman Islands and whose shares are listed on the Stock Exchange
has the meaning ascribed thereto under the Listing Rules
6 May 2021, the date on which the Awarded Shares are granted
director(s) of the Company
the Company and its subsidiaries
Hong Kong dollars, the lawful currency of Hong Kong
the Rules Governing the Listing of Securities on the Stock Exchange
the grantees selected by the Board on 6 May 2021, to whom the Awarded Shares are granted on the same date by the Board pursuant to the terms of the Share Award Scheme
"Share Award Scheme" the share award scheme adopted by the Company on 24 December 2013, the principal terms of which are summarised in the announcement of the Company dated 24 December 2013
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"Share(s)"
"Stock Exchange"
"Trust Deed"
"Trustee"
"US$"
"%"
Hong Kong, 6 May 2021
means ordinary share(s) of US$0.0000025 each in the share capital of the Company
The Stock Exchange of Hong Kong Limited
a trust deed in relation to the Share Award Scheme for the Company entered into between the Company and the Trustee on 17 February 2014 (as restated, supplemented and amended from time to time)
Computershare Hong Kong Trustees Limited, and any additional or replacement trustees, being the trustee or trustees for the time being of the trusts declared in the Trust Deed
United States dollars, the lawful currency of the United States of America
per cent
By order of the Board
IGG INC
Zongjian Cai
Chairman
As at the date of this announcement, the Board comprises five executive Directors, namely, Mr. Zongjian Cai, Mr. Yuan Xu, Mr. Hong Zhang, Ms. Jessie Shen and Mr. Feng Chen; one non-executive Director, namely, Mr. Yuan Chi; and three independent non-executive Directors, namely, Dr. Horn Kee Leong, Mr. Dajian Yu and Ms. Zhao Lu.
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IGG Inc. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2021 07:04:05 UTC.