220 Notes to the Consolidated Financial Statements 31 December 2023 42. SHARE-BASED COMPENSATION PLAN (continued) A. Share Option Plan issued by the Company (continued) The exercise prices and exercise periods of the share options outstanding as at the end of each of the years ended 31 December 2023 and 2022 are as follows: Number of options 2023 2022 Exercise price Exercise period ’000 ’000 per share 7,800 7,800 US$0.4600 20–04–17 to 20–01–26 100 100 US$0.4722 01–01–23* to 22–02–29 9,227 13,767 US$0.9445 01–01–23* to 19–05–29 873 873 US$1.1453 16–08–23* to 15–08–28 948 948 US$1.3655 16–02–24* to 25–02–29 2,260 2,437 US$1.5172 20–05–24* to 19–05–29 6,650 6,650 HK$27.30 28–12–21 to 27–12–30 11,194 11,432 HK$24.50 23–08–21 to 22–08–31 384# 384# HK$22.78 08–06–22 to 07–06–32 39,436 44,391 * Participants will have an unconditional right to exercise an option to the extent that it is vested after the earliest of the followings: a) an IPO; b) an Early Vesting Event; c) 5 years of the date of grant. If there is (i) a sale of all or substantially all of the shares in; or (ii) a disposal of all or substantially all of the business of the member of the Group of which a participant is a director or by which the participant is employed, as appropriate, by way of trade sale or by way of sale to a third party (an “Early Vesting Event”), any options granted to the participant will vest in full on the occurrence of the Early Vesting Event. # Total share options of 384,000, at an exercise price of HK$22.78, were granted to the directors of Company, Jinchu Shen and Stuart Gibson on 8 June 2022, in equal amount. The share options will vest in three equal tranches on 8 June 2022, 8 June 2023 and 8 June 2024. The 4,650,902 share options exercised during the year resulted in the issue of 1,967,705 ordinary shares of the Company and new share capital of US$1,968 (before issue expenses), as further detailed in note 41. At 31 December 2023, the Company had 39,436,000 share options outstanding under the Plans. The exercise in full of the outstanding share options by the conventional exercise method would, under the present capital structure of the Company, result in the issue of 39,436,000 additional ordinary shares of the Company and additional share capital and share premium of US$77,815,000 (before issue expenses). At the date of approval of these financial statements, the Company had 39,436,000 share options outstanding under the Plans, which represented approximately 0.94% of the Company’s shares in issue as at that date. STRENGTH IN UNITY
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