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.
ASM PACIFIC TECHNOLOGY LIMITED
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 0522)
ISSUE OF SHARES PURSUANT TO
EMPLOYEE SHARE INCENTIVE SCHEME
On 16 December 2019, the Board resolved that 2,224,200 Incentive Shares be issued to 1,503 Eligible Persons, being employees of the Group, who have served the Company and/or its participating subsidiaries during the 2017/2019, 2018/2019 and 2019 Qualification Periods expiring on 16 December 2019. Pursuant to the terms of the Scheme, the Trustees shall subscribe for new Shares at par or purchase Shares on the Stock Exchange for the benefit of Eligible Persons.
Reference is made to the relevant rules of the Scheme adopted on 23 March 1990, as amended on 30 June 1999, 25 April 2009, 25 April 2013 and 15 June 2015. Pursuant to the terms of the Scheme, the Trustees shall subscribe for new Shares at par or purchase Shares on the Stock Exchange for the benefit of Eligible Persons.
The number of Incentive Shares to be allocated to each Eligible Person is determined by having regard to factors such as his/her position, experience, years of service and performance in the Company and/or its participating subsidiaries.
On 17 March 2017, the Board resolved to grant a total of 243,900 Incentive Shares to 48 Eligible Persons, being employees of the Group, who shall have served the Company and/or its participating subsidiaries throughout the whole of the 2017/2019 Qualification Period. On 23 March 2018, the Board also resolved that a total of 477,900 Incentive Shares be granted to 49 Eligible Persons, being employees of the Group, who shall have served the Company and/or its participating subsidiaries throughout the whole of the 2018/2019 Qualification Period. On 27 March 2019, the Board further resolved to grant a total of 1,946,900 Incentive Shares to 1,531 Eligible Persons, being employees of the Group, who shall have served the Company and/or its participating subsidiaries throughout the whole of the 2019 Qualification Period. All of the 2017/2019, 2018/2019 and 2019 Qualification Periods expire on 16 December 2019.
Pursuant to the authority conferred upon them under the Scheme and the authority given by the shareholders of the Company to the Board at the annual general meeting held on 24 April 2009, the Trustees have accordingly subscribed for new Shares in cash and the Board
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resolved to issue and to allot 2,224,200 new Shares to 1,503 Eligible Persons on 16 December 2019, who are not connected persons of the Company as defined under the Listing Rules.
The 2,224,200 Incentive Shares in aggregate represents approximately 0.5469% of the existing issued share capital and approximately 0.5440% of the enlarged issued share capital of the Company after the allotment. When issued and fully paid, they rank pari passu amongst themselves and with the existing issued Shares, with the same rights as respects voting, dividends, transfer and all other rights, including those arising on liquidation, as all other issued Shares at the time of such allotment.
Application had been made and conditional approval had been granted by the Stock Exchange for granting the listing of, and permission to deal in, the Shares which are to be issued under the Scheme during the period starting from 24 March 2010 to 23 March 2020.
The following are the details of the allotment and issue of the Incentive Shares:
Number and nominal value: | 2,224,200 ordinary shares of HK$0.10 each in the share |
capital of the Company | |
Issue/Net price: | At par value of HK$0.10 per Share |
Aggregate nominal value: | HK$222,420 |
Total funds to be raised and | HK$222,420, to be used as general working capital of the |
proposed use of proceeds: | Company |
Reasons for the issue: | The issue of Incentive Shares is to make available Shares for |
allocation to the Eligible Persons under the Scheme. The | |
allocation of Incentive Shares to the Eligible Persons | |
pursuant to the Scheme provide valuable incentive and | |
rewards for the contributions made by the Eligible Persons to | |
the Company and/or its participating subsidiaries, and to | |
attract and retain human resources that are valuable to the | |
Company and/or its participating subsidiaries | |
Identity of the allottees: | 1,503 Eligible Persons, all being employees of the Company |
and/or its participating subsidiaries (none of whom are | |
connected persons of the Company as defined under the | |
Listing Rules) | |
Funds: | The Trustees paid to the Company the subscription money |
out of the funds held on trust for the benefit of the Eligible | |
Persons | |
Closing price of the Share: | HK$110.20 per Share on the date of this announcement |
Fund raising activities in the | The Company has not engaged in any capital fund raising |
past 12 months: | activities in the 12 months immediately preceding the date of |
this announcement. | |
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Definitions
In this announcement, the following expressions have the following meanings unless the context requires otherwise:
"Board" | board of Directors |
"Company" | ASM Pacific Technology Limited, a company incorporated |
in the Cayman Islands with limited liability, the Shares of | |
which are listed on the Stock Exchange | |
"Director(s)" | director(s) of the Company |
"Eligible Person(s)" | members of the management and employees of the Company |
and/or its participating subsidiaries, which include executive | |
and non-executive Directors and employees of the Company | |
and/or of the participating subsidiaries, and who, inter alia, | |
shall have served the Company and/or its participating | |
subsidiaries during a particular qualification period as | |
determined by the Board | |
"Group" | the Company and its subsidiaries |
"Incentive Share(s)" | in respect of an Eligible Person, such Shares as determined |
by the Board, which shall be subscribed for or purchased by | |
the Trustees to be allocated to him pursuant to the Scheme | |
"Listing Rules" | the Rules Governing the Listing of Securities on the Stock |
Exchange | |
"participating subsidiaries" | the subsidiaries of the Company which are bound by the |
terms of the Scheme and participating in the Scheme | |
"Scheme" | an employee share incentive scheme adopted by the |
Company on 23 March 1990, as amended on 30 June 1999, | |
25 April 2009, 25 April 2013 and 15 June 2015, for the | |
benefit of members of the management and employees of the | |
Company and/or its participating subsidiaries | |
"Share(s)" | ordinary share(s) of HK$0.10 each in the share capital of the |
Company | |
"Stock Exchange" | The Stock Exchange of Hong Kong Limited |
"Trustees" | the trustee(s) appointed by the Company pursuant to the |
Scheme to administer the Scheme | |
"2017/2019 Qualification | the period commencing on 17 March 2017 and expiring on |
Period" | 16 December 2019 in respect of the shares awarded on 17 |
March 2017 |
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"2018/2019 Qualification | the period commencing on 23 March 2018 and expiring on |
Period" | 16 December 2019 in respect of the shares awarded on 23 |
March 2018 | |
"2019 Qualification Period" | the period commencing on 27 March 2019 and expiring on |
16 December 2019 in respect of the shares awarded on 27 | |
March 2019 | |
"HK$" | Hong Kong dollar(s), the lawful currency of Hong Kong |
"%" | per cent. |
On behalf of the Board
Lee Wai Kwong
Director
Hong Kong, 16 December 2019
As at the date of this announcement, the Board comprises Miss Orasa Livasiri (Chairman), Mr. John Lok Kam Chong, Mr. Wong Hon Yee and Mr. Eric Tang Koon Hung as Independent Non-Executive Directors, Mr. Charles Dean del Prado and Mr. Petrus Antonius Maria van Bommel as Non-Executive Directors, and Mr. Lee Wai Kwong, Mr. Stanley Tsui Ching Man and Mr. Robin Gerard Ng Cher Tat as Executive Directors.
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ASM Pacific Technology Ltd. published this content on 16 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2019 09:05:00 UTC