Newsletter summary
GUANZE MEDICAL awarded 758 to 35 employeesSteamblockchain.60,000 award shares, accounting for 0.80% of the share capital, of which 472000 shares were invalidated as a result of the resignation of two employees. The company has paid HK $2.0864 million to purchase existing shares as incentive shares.
Text of news flash
GUANZE MEDICAL (02427) awarded a total of 7.586 million award shares to 35 group employees under the share incentive scheme.
GUANZE MEDICAL (02427) Board of Directors according to the Remuneration CommitteeSteamblockchainA decision was made on April 1, 2024 to grant a total of 7.586 million award shares to 35 selected participants, all of whom are group employees. These award shares are awarded at zero consideration in accordance with the rules of the Scheme and have been accepted by the selected participants in accordance with the terms of the award.
The award shares account for approximately 0.80% of the issued share capital of the company (as of the date of the announcement). According to the rules of the scheme, the award shares can only be paid through shares purchased from the open market by the trustee or the trust holding company, so the grant will not dilute the shares of existing shareholders.
The announcement also mentioned that two of the 35 selected participants had resigned. According to the plan rules, the 472000 award shares of the two former employees have expired on the date of the announcement.
The company has arranged for the trustee or trust holding company to purchase existing shares in the market to meet the vesting requirements. The funds for the purchase of existing shares shall be provided by the company in accordance with the rules of the plan.
The trustee informed the company that between April 2 and April 30, 2024, the trustee or trust holding company had purchased a total of 2.536 million shares in the market at a total cost of HK $2.0864 million.