Samsonite (01910) announced that its Remuneration Committee, with approval from independent non-executive directors, has proposed granting restricted share units to the company's Chief Executive Officer that exceed the 0.1% individual limit under the Share Award Scheme. Shareholders are recommended to review and approve this proposed grant at the Annual General Meeting scheduled for June 4, 2026. The company also intends to seek shareholder approval at the AGM for certain amendments to the Share Award Scheme related to a potential dual listing. These amendments will be conditional upon the effectiveness of the potential dual listing and will only take effect upon its completion. Since the authorization for the board to issue new shares (in the form of American Depositary Shares) for the potential dual listing on a U.S. stock exchange is valid only until the conclusion of the AGM, and given the current global market conditions and other factors create uncertainty about whether the potential dual listing can be completed by or at the AGM, the company will also seek shareholder approval to renew this authorization on the same terms as the existing one. If approved by shareholders, the renewed authorization will remain valid until the earlier of: (i) the completion of the potential dual listing (at which point it will automatically terminate), or (ii) the conclusion of the Annual General Meeting to be held in 2027.
Comments