CHINA ZHONGWANG HOLDINGS LIMITED 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.
The Board is pleased to announce that a total of 450,000,000 Share Options have been granted to 7 Directors and 152 staff of the Company under the Share Option Scheme at the exercise price of HK$3.93 per Share.
This announcement is made 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 of directors (the "Board") of China Zhongwang Holdings Limited (the "Company") announces that the Company granted a total of 450,000,000 share options (the "Share Options") to 7 directors (the "Directors") and 152 staff of the Company (the "Grantees"), subject to acceptance of the Grantees, to subscribe for a total of 450,000,000 ordinary shares of HK$0.1 each (the "Shares") of the Company under the share option scheme of the Company adopted on 17 April 2008 (the "Share Option Scheme"). Details of the granted Share Options are set out below:
Date of grant……………………… | 6 January 2016 |
Exercise price of the Share Options granted…………………………. | HK$3.93 per Share, representing the higher of: (i) the closing price of HK$3.92 per Share as stated in the Stock Exchange's daily quotation sheet on the date of grant; and (ii) the average closing price of HK$3.93 per Share as stated in the Stock Exchange's daily quotation sheet for the five business days immediately preceding the date of grant. |
Number of Share Options granted…. | 450,000,000 Share Options |
Closing price of the Shares on the date of grant…………………… | HK$3.92 per Share |
Validity period of the Share Options | Ten years from 6 January 2016 up to 5 January 2026 |
Among the 450,000,000 Share Options granted, 163,000,000 Share Options were granted to 7 Directors. Details of such grant are as follows:
Name of Directors | Number of Share Options granted |
Mr. Lu Changqing (Executive Director) | 40,000,000 |
Mr. Chen Yan (Executive Director) | 40,000,000 |
Ms. Zhong Hong (Executive Director) | 40,000,000 |
Mr. Gou Xihui (Executive Director) | 40,000,000 |
Mr. Wong Chun Wa (Independent Non- executive Director) | 1,000,000 |
Mr. Shi Ketong (Independent Non- executive Director) | 1,000,000 |
Mr. Lo Wa Kei, Roy (Independent Non- executive Director) | 1,000,000 |
Subtotal | 163,000,000 |
Save as disclosed above, none of the Grantees is a director, chief executive or substantial shareholder of the Company, nor an associate (as defined in the Listing Rules) of any of them.
In accordance with Rule 17.04(1) of the Listing Rules, the grant of the Share Options to each of the directors of the Company has been approved by the independent non- executive directors of the Company and each of the independent non-executive Directors has abstained from approving the resolution relating to the grant of Share Options to him.
By order of the Board
China Zhongwang Holdings Limited Liu ZhongtianChairman
Hong Kong, 6 January 2016
As at the date of this announcement, the Board consists of:
Executive Directors
Mr. Liu Zhongtian, Mr. Lu Changqing, Mr. Chen Yan, Ms. Zhong Hong and Mr. Gou Xihui
Independent Non-executive Directors
Mr. Wong Chun Wa, Mr. Wen Xianjun, Mr. Shi Ketong and Mr. Lo Wa Kei, Roy.
* For identification purpose only
China Zhongwang Holdings Ltd. issued this content on 2016-01-06 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-06 13:27:08 UTC
Original Document: http://www.zhongwang.com/en/upload/newsfile/201601/1452085484amdieulp.pdf
