Greentown Service Grants 9.62 Million Share Options at 10.7% Premium, Setting Three-Year Profit Growth Hurdles

Bulletin Express06-24

Greentown Service Group Co. Ltd. (Greentown Service) announced the award of 9.62 million share options to senior management and employees on 24 June 2026, under its share option scheme adopted in June 2023. Each option allows subscription for one ordinary share at HK$4.328, a 10.72% premium to the HK$3.910 closing price on the grant date, and equals the five-day average closing price.

The options carry a 10-year life, expiring on 23 June 2036. Vesting is phased at 33%, 33% and 34% across three tranches, becoming exercisable from 24 June 2027, 24 June 2028 and 24 June 2029, respectively, subject to performance conditions:

1. Group performance: measured against 2025 core operating profit, management must deliver minimum cumulative growth of 15.0% in 2026, 30.0% in 2027 and 45.0% in 2028. 2. Individual performance: grantees must meet annual appraisal targets set by the company.

The Board retains discretion to accelerate vesting in compliance with the Listing Rules. A claw-back mechanism permits forfeiture of unvested or unexercised options in cases such as misconduct or fraud.

Senior management received 232,000 options, all granted to Chief Financial Officer Zhang Lingbo. Independent non-executive directors have approved these awards in accordance with Rule 17.04(1) of the Hong Kong Listing Rules; no shareholder approval is required.

Following this grant, 223.15 million options remain available under the company’s 2023 Share Option Scheme.

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