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.
IGG INC
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 799)
GRANT OF SHARE OPTIONS UNDER THE SHARE OPTION SCHEME
AND
GRANT OF AWARDED SHARES UNDER THE SHARE AWARD SCHEME
GRANT OF SHARE OPTIONS
This announcement is made pursuant to Rule 17.06A of the Listing Rules.
On 19 August 2019, the Board (including all independent non-executive Directors), based on the recommendation by the remuneration committee, resolved to grant a total of 500,000 Share Options to subscribe for 500,000 Shares pursuant to the Share Option Scheme, subject to the acceptances by the Share Option Grantees. The details of the Share Options granted are as follows:
Each Share Option shall entitle the holder of the Share Option to subscribe for one Share upon exercise of such Share Option at an exercise price of HK$5.75 per Share, which represents the highest of (1) the nominal value of the Share; (2) the closing price of HK$5.60 per Share as stated in the daily quotation sheets issued by the Stock Exchange on the Date of Grant; and (3) the average closing price of HK$5.75 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.
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The Share Options granted shall vest in the Share Option Grantees in accordance with the timetable below, each with an exercise period commencing from the relevant Share Option Vesting Date and ending 10 years after the Date of Grant (for this purpose, the date or each such date on which the Share Options are to vest being hereinafter referred to as a "Share Option Vesting Date"):
Share Option Vesting Date | Percentage of Share Options to Vest |
On 19 August 2020 | 25% of the total number of Share Options granted |
On 19 August 2021 | 25% of the total number of Share Options granted |
On 19 August 2022 | 25% of the total number of Share Options granted |
On 19 August 2023 | 25% of the total number of Share Options granted |
To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, none of the Share Option Grantees is a Director, chief executive or substantial shareholder of the Company, nor an associate of any of them.
GRANT OF AWARDED SHARES
On 19 August 2019, the Board (including all independent non-executive Directors), based on the recommendation of the remuneration committee, resolved to grant a total of 1,000,000 Awarded Shares, which have been acquired by the Trustee from the open market by utilising the Company's internal resources provided to the Trustee, to the Share Award Grantees of the Group pursuant to the Share Award Scheme at nil consideration, subject to the acceptances by the Share Award Grantees. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, each of the Share Award Grantees is a third party independent of the Company and connected persons of the Company.
The 1,000,000 Awarded Shares to be granted to the Share Award Grantees represent approximately 0.08% of the issued share capital of the Company as at the date of this announcement. The 1,000,000 Awarded Shares represent the value of approximately HK$5.60 million, taking into account of the closing price of HK$5.60 per Share as stated in the daily quotation sheets issued by the Stock Exchange on the Date of Grant.
The details of the Awarded Shares granted are as follows:
The Awarded Shares granted shall vest in the Share Award Grantees in accordance with the schedule below (for this purpose, the date or each such date on which the Awarded Shares are to vest being hereinafter referred to as a "Share Award Vesting Date"):
Share Award Vesting Date | Percentage of Awarded Shares to Vest |
On 19 August 2020 | 25% of the total number of Awarded Shares granted |
On 19 August 2021 | 25% of the total number of Awarded Shares granted |
On 19 August 2022 | 25% of the total number of Awarded Shares granted |
On 19 August 2023 | 25% of the total number of Awarded Shares granted |
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Once vested, at the request of the relevant Share Award Grantees, the Awarded Shares can be transferred to the relevant Share Award Grantees from the Trustee, or the Trustee can sell the vested Awarded Shares for them and subsequently transfer the income arising from such sales to the relevant Share Award Grantees.
DEFINITIONS
In this announcement, the following expressions shall have the following meanings unless the context requires otherwise:
"associate(s)"
"Awarded Shares"
"Board"
"Company"
"connected person(s)"
"Date of Grant"
"Director(s)"
"Group"
"HK$"
"Listing Rules"
"Share Award Grantee(s)"
"Share Award Scheme"
has the meaning ascribed thereto under the Listing Rules
The 1,000,000 awarded Shares granted to the Share Award Grantees pursuant to the Share Award Scheme on the Date of Grant
the board of Directors
IGG Inc, an exempted company incorporated in the Cayman Islands and whose shares are listed on the Stock Exchange
has the meaning ascribed thereto under the Listing Rules
19 August 2019, the date on which the Share Options and the Awarded Shares are granted
director(s) of the Company
the Company and its subsidiaries
Hong Kong dollars, the lawful currency of Hong Kong
the Rules Governing the Listing of Securities on the Stock Exchange
the grantees selected by the Board on 19 August 2019, to whom the Awarded Shares are granted on the same date by the Board pursuant to the terms of the Share Award Scheme
the share award scheme adopted by the Company on 24 December 2013, the principal terms of which are summarised in the announcement of the Company dated 24 December 2013
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"Share(s)"
"Share Options"
"Share Option Grantee(s)"
"Share Option Scheme"
"Stock Exchange"
"substantial shareholder(s)"
"Trust Deed"
"Trustee"
"US$"
"%"
Hong Kong, 19 August 2019
means ordinary share(s) of US$0.0000025 each in the share capital of the Company
the 500,000 share options granted to the Share Option Grantees pursuant to the Share Option Scheme on the Date of Grant
the grantees selected by the Board on 19 August 2019, to whom the Share Options are granted on the same date by the Board pursuant to the terms of the Share Option Scheme
the share option scheme adopted by the Company on 16 September 2013 by a resolution of all shareholders of the Company
The Stock Exchange of Hong Kong Limited
has the meaning ascribed thereto under the Listing Rules
a trust deed in relation to the Share Award Scheme for the Company entered into between the Company and the Trustee on 17 February 2014 (as restated, supplemented and amended from time to time)
Computershare Hong Kong Trustees Limited, and any additional or replacement trustees, being the trustee or trustees for the time being of the trusts declared in the Trust Deed
United States dollars, the lawful currency of the United States of America
per cent
By order of the Board
IGG INC
Zongjian Cai
Chairman
As at the date of this announcement, the Board comprises five executive Directors, namely, Mr. Zongjian Cai, Mr. Yuan Xu, Mr. Hong Zhang, Ms. Jessie Shen and Mr. Feng Chen; one non-executive Director, namely, Mr. Yuan Chi; and three independent non-executive Directors, namely, Dr. Horn Kee Leong, Mr. Dajian Yu and Ms. Zhao Lu.
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IGG Inc. published this content on 19 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2019 14:11:02 UTC