Summary by Futu AI
On July 26th, 2024, PCCW announced that the board of directors decided to issue and distribute 1,347,791 new shares to the trustee and employees under the general authorization and stock incentive scheme as rewards. The new shares account for approximately 0.0174% of the total issued shares on that day and will be held by Hong Kong Securities Trust Co., Ltd. as an independent trustee until the relevant attribution conditions are met and then transferred free of charge to the selected employees. The new shares will be issued at a price of HK$0.01 per share, with a total price of HK$13,477.91 paid by the company. The new shares issued this time will enjoy the same rights as other issued shares. The issuance of new shares this time will not raise funds, but aim to affirm and reward the contributions of selected employees, and attract them to continue to participate in the group's operation and development. PCCW will apply to the Stock Exchange of Hong Kong for approval of the listing and trading of new shares.