On December 31, Gelonghui reported that PAN ASIA DATA H (01561.HK) announced regarding the adoption of the plan dated January 9, 2020. The Board of Directors has adopted the plan, which takes effect from January 9, 2020. According to the plan, directors are authorized to (i) recognize the contributions of selected grantees and provide them with rewards to retain them for the group's continued operation and development; and (ii) attract suitable individuals to promote the further development of the group.
In view of the fact that the trustee does not hold any awarded shares as of the date of this announcement, and the REITs also have no fund balance, and the company expects not to grant further awards under the plan in the next fiscal year, in order to reduce administrative costs, the Board of Directors has resolved to terminate the plan, which will take effect from December 31, 2024.