Xinyuan PM (01895) announced that on July 8th, 2024, the board of directors passed a resolution to conditionally apply to the executive director...
Xinyuan PM (01895) announced that on July 8th, 2024, the board of directors passed a resolution to grant Mr. Shen and Mr. Wang equivalent to 17.025 million new shares and 8.5125 million new shares of incentive shares, respectively.
Under the conditional issuance, a total of 25.5375 million incentive shares will be allocated and issued, accounting for 4.5% of the issued shares as of the date of this announcement; and after the distribution and issuance of incentive shares, the issued shares will be approximately 4.31% (assuming no other changes in the company's issued share capital from the date of this announcement to the date of issuance and distribution of incentive shares).
The equity purchase plan after the initial public offering was adopted by the shareholders on September 16, 2019 and is effective for 10 years from the date of adoption. As of the date of this announcement, there is no granting or agreement to grant any share purchase rights under the equity purchase plan after the initial public offering, and the board of directors also has no intention to grant any share purchase rights under the equity purchase plan after the initial public offering.
In view of the revision of Chapter 17 of the Listing Rules (which will come into effect on January 1, 2023), the company proposes to terminate the equity purchase plan after the initial public offering, but it must be approved by the shareholders at a special general meeting. After the plan is terminated, no share purchase rights may be provided or granted under the equity purchase plan after the initial public offering. The company may propose a new share plan later in accordance with the provisions of Chapter 17 of the Listing Rules as it deems appropriate.