DENOX ENVIRONMENTAL & TECHNOLOGY HOLDINGS LIMITED has officially adopted a new Share Option Scheme at its extraordinary general meeting held in 2025. According to the announcement, the scheme will remain effective for 10 years from the adoption date, granting eligible participants the right to subscribe for Shares under specified conditions.
Key highlights include the introductory vesting period of 12 months, although the board has discretion to approve a shorter duration under certain circumstances. The subscription price must not be lower than the highest of (1) the closing price on the offer date, (2) the average closing price of the five consecutive business days prior to the offer date, or (3) the nominal value of the Shares.
In addition, the total number of Shares that may be issued under the scheme and other share schemes cannot exceed 10% of the Company’s issued share capital (excluding treasury shares) as of the adoption date. The scheme also details provisions for early termination of awarded options in the event of participant misconduct, retirement, or corporate actions such as a merger or winding-up.
The announcement reiterates that the Share Option Scheme aims to attract and retain individuals pivotal to the Company’s growth, offering them an opportunity to align personal performance with the Company’s objectives. The rules also set forth clawback mechanisms under specific scenarios, underscoring compliance with listing regulations and overall accountability within the program.
