Summary by Moomoo AI
Novelty International Limited announced on March 14, 2024 that the Remuneration Committee has proposed to grant to Kyle Francis Gendreau, the Executive Director and Chief Executive Officer, Kyle Francis Gendreau, restricted share units in excess of 0.1% of the individual limit as part of his annual remuneration. The proposal is subject to subsequent approval by the Annual General Meeting on 6 June 2024. The restricted share units granted are time-linked and performance-linked, where the performance-linked portion determines the number of final attributions based on how well the company achieves its EBITDA growth target. This move is designed to ensure that Mr. Gendreau's interests are aligned with the long-term interests of shareholders and to reward his long-term performance. Nuevo is a world-renowned fashion bags and luggage company with more than 110 years of history.
