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.
PAX Global Technology Limited
百 富 環 球 科 技 有 限 公 司*
(Incorporated in Bermuda with limited liability)
(Stock Code: 327)
GRANT OF SHARE OPTIONS
This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").
The board of directors (the "Board") of PAX Global Technology Limited (the "Company") hereby announces that on 2 October 2019, the Company offered to grant share options (the "Share Options") to selected grantees (the "Grantees"), subject to the acceptance by the Grantees to subscribe for a total of 82,510,000 ordinary shares of HK$0.10 each (each a "Share") of the Company, pursuant to the share option scheme adopted by the Company on 2 May 2019. Details of the Share Options granted are set out below:
Date of grant:
2 October 2019 (the "Date of Grant")
Exercise price of Share
HK$3.57 per Share, which represents the highest of (i) the
closing price of HK$3.57 per Share as stated in the daily
quotations sheet of The Stock Exchange of Hong Kong
Limited (the "Stock Exchange") on 2 October 2019, being
the Date of Grant; (ii) the average closing price of HK$3.56
per Share as stated in the daily quotations sheet of the Stock
Exchange for the five business days immediately preceding
the Date of Grant; and (iii) the nominal value of the Share.
Number of Share Options
82,510,000 (each entitling the holder thereof to subscribe for
one (1) Share)
For identification purpose only
Closing price of the Shares on the Date of Grant:
Vesting and Validity period of the Share Options:
The Share Options can be exercised for a period of five years from 2 October 2019, being the Date of Grant, subject to the vesting period as follows:
30% of the Share Options will be vested on the Date of Grant;
30% of the Share Options will be vested on the first anniversary of the Date of Grant; and
the remaining 40% of the Share Options will be vested on the second anniversary of the Date of Grant.
Among the Share Options granted, 23,000,000 Share Options were granted to the directors and chief executive of the Company with details as follows:
Number of Share Options granted
Chairman, Executive Director
Chief Executive Officer,
The grant of the Share Options to each of the above directors and chief executive was approved by the independent non-executive directors of the Company in accordance with Rule 17.04(1) of the Listing Rules.
Save as disclosed in this announcement, none of the Grantees is a director, chief executive or substantial shareholder of the Company, or an associate (as defined under the Listing Rules) of any of them.
By Order of the Board
PAX Global Technology Limited
Cheung Shi Yeung
Hong Kong, 2 October 2019
As at the date of this announcement, the Board comprises three executive directors, namely Mr. Nie Guoming, Mr. Lu Jie and Mr. Li Wenjin; and three independent non-executive directors, namely Mr. Yip Wai Ming, Dr. Wu Min and Mr. Man Kwok Kuen, Charles.
PAX Global Technology Ltd. published this content on 02 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 October 2019 12:33:01 UTC