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Directors%u2019 ReportESR Group Limited Annual Report 202497STRATEGIC REPORTSFINANCIAL STATEMENTSCORPORATE GOVERNANCE(xvi)Outstanding options granted under the Tier 1 ESOPAsat31December2024,optionstosubscribeforanaggregateof7,799,856Shares,representingapproximately 0.18% of the issued shares of the Company, are outstanding. Details of the holders are set out beloNumber of optionsName of ParticipantExercise priceExercise periodheld at 1 January 2024Exercised during the yearCancelled during the yearHeld at 31 December 2024 (Note 3)Executive DirectorMr Jinchu Shen (Notes 1, 2)US$0.4610 years from 20 January 20167,799,8567,799,856Notes:1.The options are granted to Laurels Capital Investments Limited. Laurels Capital Investments Limited is wholly owned by The ShenTrust. 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.2.%u0009 Theoptionsweregrantedon20April2017atexercisepriceofUS$0.46.Thevestingperiodofaboveoutstandingoptionsisvesteddaily on a straight line basis to 20 January 2021.3.No share options were granted, lapsed or were cancelled for the year ended 31 December 2024.No further share options under the Tier 1 ESOP have been granted since the listing.As the Tier 1 ESOP was adopted prior to the Company%u2019s listing and its terms are not subject to the provisions ofChapter17oftheListingRules,pursuanttoRule17.02(1)(b)oftheListingRules,nooptionsorawardsmaybe granted under Tier 1 ESOP after the Company%u2019s listing.3.Post-IPO Share Option SchemeThe following is a summary of the principal terms of the Post-IPO Share Option Scheme conditionally adopted by the resolutions of the Shareholders passed at an extraordinary general meeting held on 12 October 2019.(i)Purpose of the Post-IPO Share Option SchemeThe purpose of the Scheme is to provide incentives to participants to contribute to the Company and to enable the Company to recruit high calibre employees and attract or retain human resources that are valuable to the Group.(ii)Selected participants to the Post-IPO Share Option SchemeAny individual, being an employee, executive Director and non-executive Director (including independent nonexecutive Director), agent or consultant of the Company or its subsidiary who the Board or its delegate(s) considers, at their sole discretion, to have contributed or will contribute to the 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 SchemeOrdinary shares