Sino Splendid Holdings Limited has adopted a new share option scheme, effective 30 June 2026, to strengthen long-term employee and partner alignment. The programme will run for ten years from the adoption date and is administered by the board of directors.
Key terms are as follows:
• Scope of participants Eligible grantees include directors, employees, related-entity staff and external service providers that contribute to the Group’s ongoing operations.
• Share utilisation limits – Overall scheme limit: Options, together with awards from any other share schemes, may cover up to 10 % of the company’s issued share capital on the adoption date. – Service-provider sub-limit: Grants to external service providers are restricted to 2 % of issued share capital, nested within the overall 10 % cap. – Individual limit: No single participant may receive options over more than 1 % of issued shares in any 12-month period without prior shareholder approval.
• Option mechanics – Option period: Up to ten years from the offer date. – Exercise price: Not less than the higher of (i) the closing price on the offer date, (ii) the average closing price for the five preceding business days, and (iii) the nominal value of a share. – Vesting: Minimum 12-month vesting applies, except for specified cases such as replacement awards for new hires, performance-based grants or accelerated vesting upon death, disability or other defined events. – Performance targets and claw-back: The board may impose performance hurdles and retains the right to cancel unexercised options in cases of misconduct, regulatory requirements or other claw-back triggers.
• Approval requirements for connected persons Grants to directors, chief executives or substantial shareholders (and their associates) require independent non-executive director approval. Additional shareholder approval is mandatory if cumulative grants to any such individual exceed 0.1 % of issued shares in a 12-month period.
• Capital adjustments and lapse events Option terms will be adjusted for corporate actions such as rights issues, sub-divisions or consolidations, subject to auditor or independent financial-adviser confirmation. Options lapse upon expiry, termination for cause, bankruptcy, serious misconduct or other specified events.
• Alteration and termination Material amendments that benefit participants must obtain shareholder approval, and the scheme can be terminated by shareholder resolution; outstanding options remain exercisable according to their original terms.
The board may issue new shares or transfer treasury shares to satisfy option exercises, subject to Hong Kong regulatory requirements.