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Tsui Wah Holdings Limited 翠 華 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1314)
SHARE PURCHASE PURSUANT TO SHARE AWARD SCHEME
Reference is made to the announcement of Tsui Wah Holdings Limited (the ''Company'') dated 9 August 2018 (the ''Announcement'') in relation to the adoption of the Share Award Scheme (the ''Scheme'') by the Company. Unless otherwise stated, capitalised terms used in this announcement shall have the same respective meanings as those defined in the Announcement.
The Board has been informed by the Administration Committee that on 26 September 2018, the Trustee had purchased certain issued Shares from a third party independent of the Company and its connected persons (as defined in the Listing Rules) to hold on trust for the Participant(s) pursuant to the terms and conditions of the Scheme Rules and the Trust Deed.
Details of the Shares purchased and held by the Trustee on trust are as follows:
Date of purchase
Total number of issued Shares purchased
: 26 September 2018 : 32,624,000
Percentage of the total number of | : | Approximately 2.31%, which does not exceed |
issued Shares purchased to the | 10% of the total number of the issued Shares, | |
total number of Shares in issue as | the Scheme Limit of the Scheme | |
at the date of this announcement | ||
and the Adoption Date | ||
Purchase price of each Share | : | HK$0.85 |
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Total consideration of the Shares purchased (excluding related purchase expenses)
: HK$27,730,400
Total number of the Shares in issue held by the Trustee immediately after the above purchase
: 32,624,000
As at the date of this announcement, none of the issued Shares purchased under the Scheme has been awarded to any Selected Participant(s) pursuant to the Scheme. The Administration Committee will constantly review and determine at its absolute discretion or, if required, with the approval of the remuneration committee of the Board such number of the Awarded Shares to be awarded to the Selected Participant(s) under the Scheme with such vesting conditions as it may deem appropriate.
For and on behalf of
Tsui Wah Holdings Limited
Kwok Siu Man Company Secretary
Hong Kong, 26 September 2018
As at the date of this announcement, the Board comprises the following members: (a) Mr. LEE Yuen Hong (Chairman) and Mr. LEE Tsz Kin Kenji as executive Directors; (b) Mr. CHENG Chung Fan and Mr. WONG Chi Kin as non-executive Directors; and (c) Mr. GOH Choo Hwee, Mr. TANG Man Tsz and Mr. YIM Kwok Man as independent non-executive Directors.
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