FORWARD TOGETHER Corporate Governance and Other Information 30 (xvi) Outstanding options granted under the Tier 1 ESOP As at 30 June 2023, options to subscribe for an aggregate of 7,799,856 Shares, representing approximately 0.18% of the issued shares of the Company, are outstanding. Details of the movement of the options and holders are set out below: Name of Participant Exercise price Exercise period Held at 1 January 2023 Exercised during the period Cancelled during the period Held at 30 June 2023 (Note c) Director Mr Jinchu Shen (Notes a, b) US$0.46 10 years from 20 January 2016 7,799,856 – – 7,799,856 Notes: (a) The options are granted to Laurels Capital Investments Limited. Laurels Capital Investments Limited is wholly owned by The Shen Trust. In respect of The Shen Trust, the settlor is Rosy Fortune Limited (the sole shareholder of which is Mr Jinchu Shen). Mr Jinchu Shen has a deemed interest under the SFO in the options held by The Shen Trust solely in his capacity as the sole shareholder of the settlor of The Shen Trust. (b) The options were granted on 20 April 2017 at exercise price of US$0.46. The vesting period of above outstanding options was vested daily on a straight line basis to 20 January 2021. (c) No share options were granted, lapsed or were cancelled for the six months ended 30 June 2023. No further share options under the Tier 1 ESOP have been granted since the listing. 3. Post-IPO Share Option Scheme The following is a summary of the principal terms of the Post-IPO Share Option Scheme conditionally adopted by the resolutions of our Shareholders passed at an extraordinary general meeting held on 12 October 2019. (i) Purpose of the Post-IPO Share Option Scheme The purpose of the Scheme is to provide incentives to participants to contribute to the Company and to enable the Company to recruit high caliber employees and attract or retain human resources that are valuable to the Group. (ii) Selected participants to the Post-IPO Share Option Scheme Any individual, being an employee, executive Director and non-executive Director (including independent non-executive Director), agent or consultant of our Company or its subsidiary who the Board or its delegate(s) considers, at their sole discretion, to have contributed or will contribute to our Group is entitled to be granted options. However, no individual who is resident in a place where the grant, acceptance or exercise of options pursuant to the Post-IPO Share Option Scheme is not permitted under the laws and regulations of such place or where, in the view of the Board or its delegate(s), compliance with applicable laws and regulations in such place makes it necessary or expedient to exclude such individual, is eligible to be offered or granted options. (iii) Classes of shares that may be issued under the Post-IPO Share Option Scheme Ordinary shares (iv) Maximum number of shares The total number of Shares which may be issued upon exercise of all options to be granted under the PostIPO Share Option Scheme is 303,658,464, being no more than 10% of the Shares in issue on completion of the Global Offering.
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