Ever Sunshine Services Group Limited (Stock Code: 1995) disclosed the formal structure and rules of its share option scheme, set to be unconditionally adopted in 2025 (the “Scheme”). According to the document, the Scheme spans a five-year period from the official adoption date and is designed to offer rights to subscribe for shares to certain key participants, including current employees, non-independent directors, and officers of the group. The purpose is cited as motivating individuals to work toward the group’s long-term development and enhancing the group’s ability to attract and retain talent.
The Scheme outlines that the combined number of shares available under this plan and other share-based arrangements cannot exceed 172,855,400 shares, representing 10% of the total issued shares (excluding any treasury shares) as of the adoption date. An additional “Fixed Limit” imposes a cap of 60,600,000 shares, or approximately 3.51% of the total issued shares. The option exercise price must be no lower than the higher of (i) the closing share price on the date of the offer or (ii) the average closing price over the five trading days preceding the offer date. The Scheme mandates a minimum vesting period of 12 months for any granted options.
Further details address procedures for any proposed extension of the scheme’s limit subject to shareholder approval, alterations to the company’s capital structure, and the issuance of new shares or transfer of treasury shares to fulfill exercised options. It also specifies a clawback provision triggered by, among other factors, serious misconduct or material misstatements in the company’s financial information. The Scheme will remain in effect for the entire five-year term unless terminated earlier by the company via general meeting or board resolution, after which any unexercised options remain valid until their assigned expiry date.
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