Summary by Futu AI
Solomon Systech Limited issued a supplementary announcement on April 26, 2024, detailing the annual report for the year ended December 31, 2023. The 2013 stock option plan ended on May 27, 2023, during which a total of 5,900,000 stock options were granted, accounting for 0.024% of the weighted average number of shares issued. The purpose of this plan is to motivate employees who contribute to the group and does not set performance targets. The Remuneration Committee considers that granting stock options to directors and senior management is market competitive and in line with the objectives of the plan. In addition, the company has set a maximum annual limit for continuous related party transactions until 2026 based on the 2024 product sales and distribution agreement. The announcement was issued by Company Secretary Yu Chun Man on August 28, 2024.