Lee's Pharmaceutical Holdings Limited : - Grant of Share Options

The Board announces that on 15 April 2020, the Company has granted Options to subscribe for a total of 8,814,000 Shares under the Share Option Scheme.

This announcement is made pursuant to rule 17.06A of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited.

The board of directors (the 'Board') of Lee's Pharmaceutical Holdings Limited (the 'Company', together with its subsidiaries, the 'Group'), announces that on 15 April 2020, the Company has granted share options (the 'Options') to subscribe for a total of 8,814,000 ordinary shares of the Company (the 'Shares') under the share option scheme adopted on 10 May 2012 (the 'Share Option Scheme'). The following are the details of the grant of Options

Date of grant 15 April 2020

Exercise price of the Options HK$3.648 per Share

Number of Options granted 8,814,000 Shares

Closing price of the Shares on the date of grant HK$3.500 per Share

Average closing price of the Shares for the five business days immediately preceding the date of grant HK$3.648 per Share

Validity period of the Options

Directors of the Company: (i) 50% of the Options are exercisable from 15 October 2020 to 14 April 2030 and (ii) 50% of the Options are exercisable from 15 July 2021 to 14 April 2030.

Employees of the Group: (i) 50% of the Options are exercisable from 15 October 2021 to 14 April 2030 and (ii) 50% of the Options are exercisable from 15 April 2023 to 14 April 2030.

The granting of the Options to the directors of the Company were approved by the independent non-executive directors of the Company. Save as disclosed above, none of the grantees of the Options is a director, chief executive or substantial shareholder of the Company, or any of their respective associates (as defined under the Listing Rules) as at the date of this announcement.

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