Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 547)On 29 January 2016, the Board resolved that a total of 379,500,000 Options were granted to the Grantees pursuant to the Share Option Scheme, subject to the acceptance of the Grantees, amongst which, an aggregate of 100,000,000 Options granted to Mr. Chopra is subject to the approval of the shareholders of the Company at the SGM.
This announcement is made by Digital Domain Holdings Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 17.06A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").
The board (the "Board") of directors (the "Directors") of the Company announces that on 29 January 2016 ("Date of Grant"), a total of 379,500,000 share options (the "Options"), were granted by the Company to grantees (the "Grantees"), subject to the acceptance of the Grantees, under the share option scheme of the Company adopted on 27 April 2012 and amended on 3 April 2014 (the "Share Option Scheme"). The Options will entitle the Grantees to subscribe for up to a total of 379,500,000 new shares of HK$0.01 each in the capital of the Company (the "Shares"), representing approximately 3.55% of all Shares in issue as at the date of this announcement. Details of the Options granted are as follows:
Date of Grant : 29 January 2016
Exercise price of Options granted
: HK$0.413 per Share, representing the highest of (i) the closing price of HK$0.405 per Share as stated in the daily quotations sheet issued by the Stock Exchange on the Date of Grant; (ii) the average closing price of HK$0.413 per Share as stated in the daily quotations sheets issued by the Stock Exchange for the five business days immediately preceding the Date of Grant; and (iii) the nominal value of a Share
Number of Options granted : 379,500,000
Validity period of the Options
: 10 years from the Date of Grant to 28 January 2026
Holding period : one third of the Options are exercisable from the Date
of Grant
one third of the Options are exercisable from the first anniversary of the Date of Grant
one third of the Options are exercisable from the second anniversary of the Date of Grant
Among the Options granted above, an aggregate of 100,000,000 Options were granted to one Director, details of which are as follows:
Name of Grantee
Options granted
Approximate percentage to the total number of Shares in issue as at the date of thisannouncement
Mr. Amit Chopra ("Mr. Chopra")
Executive Director and Chief Operating Officer
100,000,000 0.94%
Employees of the Group
Employees of the Group
204,500,000 1.91%
Advisors of the Group Advisors of the
Group
75,000,000 0.70%
Total 379,500,000 3.55%
Save as disclosed above, none of the Grantees is a Director, chief executive or substantial shareholder of the Company, or any of their respective associates.
The grant of the Options to Mr. Chopra has been approved by the independent non-executive Directors.
The number of Shares to be issued upon exercise of the Options granted to Mr. Chopra in the 12-month period up to and including the Date of Grant would exceed 1% of all Shares in issue. Accordingly, the grant of the Options to Mr. Chopra is conditional upon the approval by the shareholders of the Company under the Listing Rules. Mr. Chopra and his associates must abstain from voting at the SGM.
A special general meeting of the Company (the "SGM") will be convened to consider and approve the grant of Options to Mr. Chopra. A circular containing, among other things, further details of the Options granted to him and the notice of SGM, will be despatched to the shareholders of the Company as soon as practicable.
By Order of the Board
DIGITAL DOMAIN HOLDINGS LIMITED Seah AngExecutive Director and Chief Executive Officer
Hong Kong, 29 January 2016
As at the date of this announcement, Mr. Peter Chou, Mr. Seah Ang and Mr. Amit Chopra are the executive Directors and Ms. Lau Cheong, Mr. Duan Xiongfei and Mr. Wong Ka Kong Adam are the independent non-executive Directors.
Digital Domain Holdings Limited issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 January 2016 12:49:19 UTC
Original Document: http://www.ddhl.com/uploadfile/1454070952_8312.pdf
