Summary by Futu AI
Xinyi Photovoltaic Holdings Limited announced on 28 March 2024 that it has granted a total of 18,700,000 shares to one director and several employees under the share option plan adopted on 6 June 2014. The exercise price of each share option is HK$6.15 and the closing price of the shares on the date of issue is HK$6.06. The warrants will be divided into three lots on 31 December 2024, 2025 and 2026. The exercise of the share option shall be from 1 April 2027 to 31 March 2028. This share option is intended to recognize and reward employees who contribute to the company and encourage them to work for the company's success over the long term. Of these, Mr. Chu Chan Fai, the Executive Director, was granted 375,000 share options. The authorized act has been approved by an independent non-executive director and is not subject to shareholder approval. Upon issuance, there are 459,750,798 shares available for future issuance under the Share Option Plan.