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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Fosun International Limited    0656   HK0656038673

FOSUN INTERNATIONAL LIMITED

(0656)
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Fosun International : GRANT OF OPTIONS UNDER SHARE OPTION SCHEME

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03/27/2019 | 07:20am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

GRANT OF OPTIONS UNDER SHARE OPTION SCHEME

The Board announces that on 27 March 2019, the Company granted the Options to subscribe for an aggregate of 83,880,000 Shares pursuant to the Scheme, subject to acceptance by the relevant Grantees.

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

In order to promote its values of entrepreneurship, encourage value creation, and reward contributions by its core management staff and outstanding employees, Fosun International Limited (the "Company", with its subsidiaries, collectively known as the "Group"), has decided to grant share options (the "Options") to the global core management staff and the outstanding employees of the Group (the "Grantees"). The Options are granted as part of the Group's continued efforts to ensure that employee interests are aligned with its shareholders in the Group's plan to become a leading global multinational company with Chinese roots providing high-quality goods and services to families around the world.

The board of directors (the "Board") of the Company announces that on 27 March 2019 (the "Date of Grant"), subject to the acceptance of the relevant Grantees, the Company has granted 83,880,000 Options to subscribe for an aggregate of 83,880,000 ordinary shares in the Company (the "Shares") under its share option scheme adopted on 6 June 2017 (the "Scheme"). Among the 83,880,000 Options, 66,000,000 Options were granted to the global core management staff while 17,880,000 Options were granted to the outstanding employees of the Group.

Each Option shall entitle the holder of such Option to subscribe for one Share upon exercise of such Option at an exercise price of HK$12.86 per Share, which is at least the higher of (1) the

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closing price of HK$12.86 per Share as stated in the daily quotation sheet issued by the Stock Exchange on the Date of Grant; and (2) the average closing price of approximately HK$12.26 per Share as stated in the daily quotation sheets issued by the Stock Exchange for the five business days immediately preceding the Date of Grant. In aggregate, the Options shall entitle the Grantees to subscribe for 83,880,000 Shares upon exercise of all such Options.

The Options shall be exercised by the Grantees during the 10-year period commencing from the Date of Grant (the "Option Period") in accordance with the following vesting schedules, subject to the relevant provisions for early termination contained in the Scheme.

The Options, being granted to the global core management staff are exercisable in three tranches as set out below:

1.up to the first 20% of the Options, at any time from the date falling on the fifth anniversary of the Date of Grant till the end of the Option Period;

2.up to a further 30% of the Options, at any time from the date falling on the sixth anniversary of the Date of Grant till the end of the Option Period; and

3.in respect of the remaining 50% of the Options, which, for the avoidance of doubt, comprise those Options which have not been exercised (and not lapsed) since the fifth anniversary of the Date of Grant, at any time from the date falling on the seventh anniversary of the Date of Grant till the end of the Option Period.

The Options, being granted to the outstanding staff of the Group are exercisable in four tranches as set out below:

1.up to the first 25% of the Options, at any time from the date falling on the first anniversary of the Date of Grant till the end of the Option Period;

2.up to a further 25% of the Options, at any time from the date falling on the second anniversary of the Date of Grant till the end of the Option Period;

3.up to a further 25% of the Options, at any time from the date falling on the third anniversary of the Date of Grant till the end of the Option Period;

4.in respect of the remaining 25% of the Options, which, for the avoidance of doubt, comprise those Options which have not been exercised (and not lapsed) since the first anniversary of the Date of Grant, at any time from the date falling on the fourth anniversary of the Date of Grant till the end of the Option Period.

The exercise of the Options by the Grantees is conditional upon the fulfilment of certain performance targets relating to the Group (the "Performance Target"). The Performance

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Target has been determined by the Board and specified in the respective grant letters of each Grantee. Unless the Performance Target is met, the Options granted to the Grantees will lapse.

To the best of knowledge, information and belief of the Board, none of the Grantees is a director, chief executive or substantial shareholder of the Company, or their respective associates (as defined in the Listing Rules).

By Order of the Board

Fosun International Limited

Guo Guangchang

Chairman

27 March 2019

As at the date of this announcement, the executive directors of the Company are Mr. Guo Guangchang, Mr. Wang Qunbin, Mr. Chen Qiyu, Mr. Xu Xiaoliang, Mr. Qin Xuetang, Mr. Wang Can and Mr. Gong Ping; and the independent non-executive directors are Mr. Zhang Shengman, Mr. Zhang Huaqiao, Mr. David T. Zhang, Mr. Yang Chao and Dr. Lee Kai-Fu.

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Disclaimer

Fosun International Limited published this content on 27 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 March 2019 12:19:05 UTC

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Financials (CNY)
Sales 2019 121 B
EBIT 2019 26 052 M
Net income 2019 14 927 M
Debt 2019 79 768 M
Yield 2019 3,72%
P/E ratio 2019 5,41x
P/E ratio 2020 5,01x
EV / Sales2019 1,33x
EV / Sales2020 1,35x
Capitalization 81 753 M
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Mean consensus BUY
Number of Analysts 11
Average target price 14,54  CNY
Last Close Price 9,57  CNY
Spread / Highest target 67,3%
Spread / Average Target 51,9%
Spread / Lowest Target 12,3%
EPS Revisions
Managers
NameTitle
Qun Bin Wang Chief Executive Officer & Executive Director
Qi Yu Chen Co-President & Executive Director
Xiao Liang Xu Co-President & Executive Director
Guang Chang Guo Chairman
Can Wang Chief Financial Officer, Executive Director & SVP
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