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.

COMBA TELECOM SYSTEMS HOLDINGS LIMITED 京信通信系統控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2342)

RENEWAL OF SHARE AWARD SCHEME

Reference is made to the announcement (the "Announcement") of Comba Telecom Systems Holdings Limited (the "Company") dated 25 March 2011 in relation to the adoption of the Share Award Scheme. Unless the context requires, capitalised terms used herein shall bear the same meanings as defined in the Announcement.

As disclosed in the Announcement, the Share Award Scheme shall be valid and effective for a term of 10 years commencing on the Adoption Date. Under the terms of the Share Award Scheme, the Board has the right to alter the terms of the Share Award Scheme to renew the Share Award Scheme. The Board resolved on 25 March 2021 to renew the Share Award Scheme for ten years as from 25 March 2021 to 25 March 2031 (the "Renewal") and on the same date, the Company as settlor entered into a deed of amendment to extend the trust period under the Trust Deed for the continuing operation of the Share Award Scheme. Save as disclosed above, all the other terms and conditions in the Share Award Scheme remain unchanged and continue in full force and effect after the Renewal.

The Share Award Scheme (as renewed under the Renewal) does not constitute a share option scheme pursuant to Chapter 17 of the Listing Rules.

The Board considers that the Share Award Scheme should be renewed so that the Company has greater flexibility to provide incentives to, and recognize the contributions of the Eligible Persons under the terms of the Share Award Scheme. The Directors consider that the Renewal of the Share Award Scheme is in line with the purpose of the Share Award Scheme to recognize the contributions by certain Eligible Persons and is in the best interests of the Company and the shareholders of the Company as a whole.

As at the date of this announcement, 16,637,136 Awarded Shares (having taken into account of bonus issues conducted by the Company since adoption of the Share Award Schemes) were outstanding in the pool of the Share Award Scheme. Such Awarded Shares might be granted to the Selected Persons subject to the terms and conditions of the Share Award Scheme and compliance with necessary requirements under the Listing Rules.

Details of the terms and conditions of the Share Award Scheme have been disclosed in the Announcement. Please refer to the Announcement for a summary of the terms of the Share Award Scheme.

On behalf of the Board

Comba Telecom Systems Holdings Limited

Chang Fei Fu

Executive Director

Hong Kong, 25 March 2021

As at the date of this announcement, the Board comprises the following executive Directors: Mr. FOK Tung Ling, Mr. ZHANG Yue Jun, Mr. XU Huijun, Mr. CHANG Fei Fu, Mr. BU Binlong and Ms. HUO Xinru; the following non-executive Director: Mr. WU Tielong; and the following independent non-executive Directors: Mr. LAU Siu Ki, Kevin, Dr. LIN Jin Tong, Ms. NG Yi Kum and Ms. WONG Lok Lam.

Attachments

  • Original document
  • Permalink

Disclaimer

Comba Telecom Systems Holdings Limited published this content on 25 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2021 13:04:06 UTC.