GESHEN

3.850

-0.09 (-2.3%)

OTHERS Ge-Shen Corporation Berhad ("Ge-shen" or "the Company") - Extension of Employees Share Option Scheme ("ESOS") and offer of options under ESOS

GE-SHEN CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description 
Ge-Shen Corporation Berhad ("Ge-shen" or "the Company")
- Extension of Employees Share Option Scheme ("ESOS") and offer of options under ESOS

The Board of Directors of Ge-Shen wishes to announce that:-

 

(i) the existing ESOS which expiring on 21 September 2021 be extended for another five (5) years to 21 September 2026 in accordance with the provisions of the ESOS By-Laws. The  ESOS extension is not subject to any approval from Bursa Malaysia Securities Berhad, the Securities Commission Malaysia and the shareholders of the Company; and

 

(ii) a total of 7,632,000/- options has been offered out of the approved allocation of 7,930,000/- options as the offer to the Executive Director requires shareholder's approval in the forthcoming Annual General Meeting.

 

Pursuant to Paragraph 9.19(51) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, Ge-Shen wishes to announce that Ge-Shen has offerred the following options to eligible employees of Ge-Shen in accordance with the By-Laws of the ESOS. The details are as follows:-

 

First Tranche

(a)

Date of offer

:

17 July 2020

(b)

Number of Options offered

:

1,908,000

(c)

Exercise Price of Options offered              

:

RM0.70

(d)

Market Price of Ge-Shen’s Shares on the date of the offer

 

:

 

RM0.45

(e)

 

Number of Options offered to the Company’s Director under the ESOS

(i)Chan Choong Kong

 

 

:

 

 

74,500

(f)

Vesting Period of the Options offered

:

25% of 7,632,000 in year 2022

 

Second Tranche

(a)

Date of offer

:

17 July 2020

(b)

Number of Options offered

:

2,671,200

(c)

Exercise Price of Options offered              

:

RM0.80

(d)

Market Price of Ge-Shen’s Shares on the date of the offer

 

:

 

RM0.45

(e)

 

Number of Options offered to the Company’s Director under the ESOS

(i)Chan Choong Kong

 

 

:

 

 

104,300

(f)

Vesting Period of the Options offered

:

 35% of 7,632,000 for year 2024

 

Third Tranche

(a)

Date of offer

:

17 July 2020

(b)

Number of Options offered

:

 3,052,800

(c)

Exercise Price of Options offered              

:

RM0.90

(d)

Market Price of Ge-Shen’s Shares on the date of the offer

 

:

 

RM0.45

(e)

 

Number of Options offered to the Company’s Director under the ESOS

(i)Chan Choong Kong

 

 

:

 

 

119,200

(f)

Vesting Period of the Options offered

:

40% of 7,632,000 for year 2026

 

This announcement is dated 17 July 2020.



Announcement Info

Company Name GE-SHEN CORPORATION BERHAD
Stock Name GESHEN
Date Announced 17 Jul 2020
Category General Announcement for PLC
Reference Number GA1-17072020-00017


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