Share Option and Award Schemes - The total number of share options available for grant under the 2023 Share Option Scheme and the Share Award Scheme as of December 31, 2023, is 36,027,400 shares, accounting for 10% of the company's total issued share capital[6]. - No share awards were granted, vested, cancelled, or lapsed under the Share Award Scheme during the fiscal year 2023[6]. - The maximum number of shares that can be granted to any selected participant under the Share Award Scheme is limited to 1% of the company's issued share capital[7]. - The 2023 Share Option Scheme was adopted on October 20, 2023, replacing the 2016 Share Option Scheme[3]. - The vesting period for any awarded shares under the Share Award Scheme must not be less than 12 months[11]. - The total number of share options available for grant under the 2016 Share Option Scheme was 35,536,000 shares at the beginning of the fiscal year 2023[5]. - The company has not issued any unvested award shares as of December 31, 2023[6]. - The board has the discretion to determine the vesting conditions for the share options granted under the 2023 Share Option Scheme[16]. - Any specific purchase price for the awarded shares will be determined by the board or the remuneration committee at the time of grant[14]. Stock Options Granted - A total of 22,116,000 stock options were granted under the 2016 Stock Option Plan during the fiscal year 2023, representing approximately 6.1% of the weighted average number of shares issued during the fiscal year, which was 360,274,000 shares[20]. - 7,200,000 stock options were granted to two directors, 14,400,000 to employees, and 516,000 to service providers, with 186,000 options subsequently canceled[23]. - The fair value of the stock options granted on January 19, 2023, was estimated at HKD 4,297,000, calculated using a binomial option pricing model[24]. - The exercise price for the stock options granted was set at HKD 1.1, with the options exercisable from January 19, 2023, to January 18, 2033[19]. - No performance targets or clawback mechanisms are imposed on the stock options granted, as the Compensation Committee deemed the grants appropriate based on the recipients' contributions to the company[25]. - The stock options granted to directors and employees do not have a minimum vesting period, providing flexibility in incentives and rewards[24]. - The stock options granted to service providers were considered beneficial for the continuity of services provided to the company[22]. - The closing price of the shares on the day prior to the grant date was HKD 1.02 per share[19]. - The company aims to attract and retain top talent through the stock option plan, which is designed to provide additional incentives to qualified participants[24]. Convertible Bond Issuance - The company issued a convertible bond with a principal amount of HKD 5,000,000, maturing on May 21, 2030, at an interest rate of 3%[28]. - The net proceeds from the convertible bond issuance are approximately HKD 4.9 million, intended for general working capital[30]. - The conversion price for the convertible bond is set at HKD 1.80 per share, allowing for the conversion into 2,777,777 new shares[28]. - The net price per share after the bond proceeds is approximately HKD 1.76, based on the net proceeds calculation[28]. - The total par value of the shares upon full conversion is expected to be HKD 277,778[28]. - The market price of the shares on April 13, 2023, was HKD 1.80[28]. - The entire amount of HKD 4.9 million from the bond proceeds has been allocated for general working capital, with no unused balance reported[30].
利骏集团香港(08360) - 2023 - 年度业绩