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.
PanAsialum Holdings Company Limited
榮 陽 實 業 集 團 有 限 公 司
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 2078)
GRANT OF SHARE OPTION
The Board hereby announces that, subject to the acceptance by the Grantee, the Company offered the Share Options to selected Grantees on 23 December 2019, to subscribe for a total of 72,000,000 Shares under the Share Option Scheme at an exercise price of HK$0.396 per Share.
GRANT OF SHARE OPTION
The Board hereby announces that, subject to the acceptance by the Grantee, the Company offered the Share Options to selected Grantees on 23 December 2019, to subscribe for a total of 72,000,000 Shares under the Share Option Scheme. Details of the Share Options granted are set out below:
Date of offer: | 23 December 2019 (the "Date of Offer") | |
Exercise price of | HK$0.396 per Share, which represents the highest | |
Share Options offered: | of: | |
(i) | the closing price of HK$0.375 per Share as | |
stated in the daily quotations sheet of The | ||
Stock Exchange on 23 December 2019, being | ||
the Date of Offer; | ||
(ii) | the average closing price of HK$0.396 per | |
Share as stated in the daily quotations sheet of | ||
the Stock Exchange for the five business days | ||
immediately preceding the Date of Offer; and | ||
(iii) | the nominal value of the Share of HK$0.1. |
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Number of Share Options granted:
Closing price of the Shares on the Date of Offer:
Vesting and Validity period of the Share Options:
72,000,000 (each entitling the holder thereof to subscribe for one (1) Share)
HK$0.375
The Share Options are exercisable for a period of ten years from the date of grant, subject to the vesting period as follows:
- 60% of the Share Options will be vested on the date of grant; and
- 40% of the Share Options will be vested on the first anniversary of the date of grant.
Among the Share Options offered, 21,600,000 Share Options were offered to the directors and chief executive of the Company with details as follows:
Number of Share | ||
Name | Capacity | Options granted |
Ms. Li Jiewen | Chief Executive Officer, | |
executive director | 12,000,000 | |
Mr. Gao Mingjie | Executive director | 6,000,000 |
Mr. Mar Selwyn | Independent non-executive | |
director | 1,200,000 | |
Mr. Leung Ka Tin | Independent non-executive | |
director | 1,200,000 | |
Dr. Cheung Wah Keung | Chairman, independent | |
non-executive director | 1,200,000 |
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The offer of the Share Options to each of the above directors and chief executive was approved by the independent non-executive directors of the Company (with the relevant independent non-executive directors abstained from voting in the relevant resolution relating to the offer of Share Options to him) in accordance with Rule 17.04(1) of the Listing Rules.
Save as disclosed in this announcement, none of the Grantees is a director, chief executive or substantial shareholder of the Company, or an associate (as defined under the Listing Rules) of any of them.
DEFINITIONS
In this announcement, the following expressions have the following meanings, unless the context otherwise requires:
"associate(s)" | has the meaning ascribed to it under the Listing Rules |
"Board" | the board of Directors of the Company |
"Business Day" | any day (excluding Saturday and Sunday) on which |
commercial banks generally are open for business in Hong | |
Kong | |
"Company" | PanAsialum Holdings Company Limited, a company |
incorporated in the Cayman Islands with limited liability and | |
the issued Shares of which are listed on the Main Board of | |
the Stock Exchange | |
"connected person(s)" | has the same meaning as ascribed to this term under the |
Listing Rules | |
"Director(s)" | the director(s) of the Company |
"Grantee(s)" | person(s) who is/are eligible to subscribe for the Share |
Options under the Share Option Scheme | |
"Group" | the Company and its subsidiaries |
"Hong Kong" | the Hong Kong Special Administrative Region of the |
People's Republic of China | |
"HK$" | the lawful currency of Hong Kong |
"Listing Rules" | The Rules Governing the Listing of Securities on the Stock |
Exchange |
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"Share(s)" | ordinary share(s) of HK$0.1 each in the share capital of the |
Company | |
"Share Option Scheme" | the share option scheme adopted by the Company on by way |
of the Shareholders' resolution passed on 18 January 2013 | |
"Share Options" | the share options resolved and be granted by the Company |
under the Share Option Scheme | |
"Shareholders" | holder(s) of the issued Share(s) |
"Stock Exchange" | The Stock Exchange of Hong Kong Limited |
"%" | Per cent |
By order of the Board of | |
PanAsialum Holdings Company Limited | |
Cheung Wah Keung | |
Independent Non-executive Director | |
and Chairman |
Hong Kong, 23 December 2019
As at the date of this announcement, the executive directors of the Company are Mr. Gao Mingjie, Mr. Wong Kwok Wai Eddy and Ms. Li Jiewen; and the independent non-executive directors of the Company are Mr. Mar Selwyn, Mr. Leung Ka Tin and Dr. Cheung Wah Keung.
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