According to Zhitong Finance App News, Jiamin Group (08519) issued an announcement. After closing on February 21, 2024, the company will grant share options to 30 service providers (grantors) of the Group in accordance with the share option plan adopted by the company on January 23, 2018 to subscribe for 80 million shares of common shares (grants) with a face value of HK$0.01 per share in the company's share capital, subject to their acceptance. The grant does not require approval from the company's shareholders.

HK$0.15 per share is a premium of approximately 20% over the closing price of HK$0.125 per share as set out in the daily quotation sheet published on the Stock Exchange on February 21 (date of grant).

According to the announcement, the contractor is a service provider working for the Group as an independent contractor. They provide the Group with supply chain management services, marketing and promotion services for the Group's restaurant business, and management and consulting services (covering areas such as strategic planning, financial control, financing, team management and internal coordination), involving areas related to or subsidiary to the Group's main business to help maintain or enhance the Group's competitiveness.

The Remuneration Committee agreed with the Board of Directors that it is appropriate to recommend granting share options to the grantees because all individual service providers have extensive experience, knowledge and connections in the relevant service fields, and the services provided are beneficial to the Group's business; the 12-month ownership period and share purchase rights exercise conditions will encourage the grantee to continue to provide valuable contributions as service providers to promote the business opportunities of the Group's restaurant business and promote the future growth and development of the Group, and encourages such grantees to promise and strengthen their commitment to serve the Group in the long term. Therefore, the Board of Directors believes that the proposed grant of share options to the grantor is in line with its overall long-term interests and the shareholders' interests, as well as the goals and objectives of the share option plan and the overall long-term interests of the Group and shareholders.