Summary by Futu AI
Country Garden Services announced on 3 April 2024 that the Board of Directors has decided to terminate the 2020 Share Option Scheme and to propose the adoption of a new 2024 Share Option Plan. This move is expected to be implemented after the relevant resolutions are adopted by shareholders at the upcoming general meeting. The 2020 Share Option Plan takes effect from 28 September 2020 and is valid for ten years, but under the terms of the plan, the Board has the right to terminate it at any time. The plan currently has 25,062,000 outstanding share options. The new 2024 share option scheme aims to encourage the long-term stability of the Group and strengthen the Group's ability to attract and retain talent by offering share rights. The new plan will comply with the revised provisions of Chapter 17 of the Listing Rules effective January 1, 2023. Adoption of the new plan will take effect on the day of approval at the General Meeting, subject to conditions including shareholder approval and approval by the Listing Committee to list the new shares.