Summary by Moomoo AI
Shiheng Automobile Technology (Suzhou) Co., Ltd. (“Shiheng Auto Technology”) announced on 23 May 2024 that the Company's Board of Directors has decided to propose the adoption of the H Share Award Scheme. The programme aims to reward and motivate qualified participants who have contributed to the growth and development of the Group and to attract and retain excellent talent. The Share Award Scheme is subject to the provisions of Chapter 17 of the Listing Rules of the Hong Kong Stock Exchange Limited, but does not constitute a scheme to issue new shares or share options and therefore does not require shareholder approval. However, according to the articles of association, the scheme and related matters are still subject to the approval of a special resolution by shareholders at the annual general meeting. The Company will send shareholders a circular containing details of the Share Award Scheme and the main terms and conditions in due course.