Landsea Mgmt (00106) announced on June 25th, 2024 that, in accordance with the terms of the 2014 Restricted Share Award Plan, it granted incentive shares to one director and fifteen employees, involving a total of 139 million shares, accounting for approximately 2.93% of the total issued shares as of the date of this announcement.
All the awarded shares that have been granted are held by the trustee in accordance with the restricted share award plan in 2014, without issuing any new shares.
Since the restricted share award plan in 2014 will expire on July 1, 2024, the company will adopt the share award plan in 2024, which will be valid for 10 years from July 2, 2024, to continue to recognize the contributions of employees, provide incentives to retain them for the ongoing operation and development of the group, and attract suitable talents for the further development of the group.
According to the share award plan in 2024, the maximum number of awarded shares that can be granted shall not exceed 10% of the company's issued share capital from time to time. Based on the calculation of the 47.22 billion shares already issued on the adoption date, the maximum number of awarded shares that can be granted according to the share award plan in 2024 is 472 million shares.