OTHERS GOLDEN PHAROS BERHAD (THE "COMPANY" or "GPB") - TERMINATION OF THE EXISTING EXECUTIVE SHARE GRANT SCHEME ("ESGS") UNDER THE LONG TERM INCENTIVE PLAN ("LTIP") OF GPB
GOLDEN PHAROS BERHAD |
Type | Announcement | ||||||||||||
Subject | OTHERS |
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Description | GOLDEN PHAROS BERHAD (THE "COMPANY" or "GPB") - TERMINATION OF THE EXISTING EXECUTIVE SHARE GRANT SCHEME ("ESGS") UNDER THE LONG TERM INCENTIVE PLAN ("LTIP") OF GPB |
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We refer to the Company's announcement dated 30 August 2018 and all subsequent announcements in relation to the LTIP. Unless otherwise stated, words and phrases used in this announcement shall have the same meanings as defined in the circular to shareholders dated 11 June 2018.
The Company wishes to announce that the ESGS under the LTIP of GPB is terminated with effect from 31 July 2021 ("Termination Date"), in accordance with the terms of the by-laws governing the ESGS (“By-Laws”). For avoidance of doubt, the Company will retain the Employee Share Option Scheme under the LTIP.
The LTIP was implemented since 30 August June 2018 and will expire on 29 August 2023 ("Date of Expiry"). According to the By-Laws, the ESGS may be terminated by the LTIP Committee at any time before the Date of Expiry, provided that the Company makes an announcement immediately to Bursa Malaysia Securities Berhad (“Bursa Securities”), in which event the ESGS Awards shall be automatically terminated and cease or be deemed to cease to be valid without any claim against GPB Group on the Termination Date.
Pursuant to Paragraph 9.19 (50) of the Main Market Listing Requirements of Bursa Securities, further details of the termination of the ESGS are set out as follows:-
This announcement is dated 28 July 2021.
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Announcement Info
Company Name | GOLDEN PHAROS BERHAD |
Stock Name | GPHAROS |
Date Announced | 28 Jul 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-27072021-00042 |