Summary by Moomoo AI
SCHOLAR EDUCATION GROUP ANNOUNCED ON FEBRUARY 28, 2024 THAT UNDER THE SHARE PLAN ADOPTED ON FEBRUARY 27, 2024, IT HAS GRANTED A SHARE OPTION TO CERTAIN EMPLOYEES WITH A TOTAL OF 16,671,000 SHARES OF COMMON STOCK UPON ACCEPTANCE. The initiative aims to motivate employees and align with the interests of the company's shareholders to promote the long-term development of the Group. The exercise price of the share option is HK$4.48 per share and will be divided into two batches based on the performance targets achieved and there is a rebate mechanism. This move does not require shareholder approval and will not cause the total number of warrants granted in 12 months to exceed 1% of the issued shares. Upon grant, the amount of shares available for future issuance will be 38,899,000 shares and 5,557,000 shares, respectively, pursuant to the planned license limits and service provider points under the share plan.