Hao Tian Resources Group Ltd. Announcements and ... - TodayIR.com

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Awards to Employees Where the contract of employment of an employee of the Group provides for part of the remuneration is being satisfied by the issue and allotment of Shares under the Scheme, such Participants (the “Eligible Employees”) are entitled to participate in the Scheme and the Board shall determine the number of Shares or the methodology by which the number of Shares is calculated by reference to (i) the monthly salary of the Eligible Employee; (ii) the average closing price of the Shares as stated in the daily quotation sheets issued by the Stock Exchange for the five trading days immediately preceding the relevant Offer Date; and (iii) the duration of employment of the Eligible Employee between the relevant Offer Date and the previous Offer Date. The Board shall grant Awards to the Eligible Employees every twelve months. The Board may decide in its absolute discretion to pay the Eligible Employees in cash an amount which is equivalent to the value of the Shares as at the Offer Date. Alteration and Termination The Scheme may be amended in any respect by a resolution of the Board provided that no such amendment shall operate to affect adversely any subsisting rights of any Grantee. The Scheme shall commence on the Adoption Date and shall (unless previously terminated by a resolution of the Board) terminate upon the expiry of the ten years period or such earlier date of termination as the Board may determine. Any termination shall be without prejudice to any subsisting rights of any Grantee. No further Award shall be granted upon termination. LISTING RULES IMPLICATIONS The Scheme does not constitute a share option scheme or an arrangement analogous to a share option scheme for the purpose of Chapter 17 of the Listing Rules, and is a discretionary award scheme of the Company. Nevertheless, the Company will make voluntary disclosures in respect of the Scheme and the Awards so as to allow Shareholders to continue to receive relevant and appropriate information on matters that would affect the share structure of the Company. 6
For the grant of Awards to Grantees who are connected persons, the prior approval of the independent non-executive Directors (excluding the independent non-executive Director who is the proposed Grantee of the Award in question) at duly convened Board meetings and the Company will comply with the relevant provisions of the Listing Rules in relation to reporting, announcement and independent Shareholders’ approval requirements. DEFINITIONS In this announcement, unless the context otherwise requires, the words and expressions below shall have the following meanings when used herein: “Adoption Date” 27 September 2013, being the date on which the Board adopted the Scheme “associate(s)” has the meaning ascribed thereto under the Listing Rules “Awards” an award granted under the Scheme in the form of RUS “Board” the board of Directors “Business Day” a day (except a Saturday or Sunday) on which banks are generally open for business in Hong Kong “Company” Hao Tian Resources Group Limited, a company incorporated in the Cayman Islands with limited liability, the Shares of which are listed on the Main Board of the Stock Exchange “connected person(s)” has the meaning ascribed to it in the Listing Rules “Director(s)” the director(s) of the Company “Grantee(s)” any Participant who accepts an offer of Award in accordance with the Scheme Rules “Group” the Company and its Subsidiaries 7
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Hao Tian Resources Group Ltd. Announcements and ... - TodayIR.com

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