Xinhuo Group (01611) proposes to terminate the existing share option scheme and adopt the new share option plan

According to the Zhitong Finance App, Xinhuo Group (01611) announced that the current share option plan was adopted on October 27, 2016 and will expire on October 26, 2026. According to the terms of the existing share option plan, the board of directors may terminate the existing share option plan at any time. Under such circumstances, no further share options may be granted, but the provisions of the existing share option plan remain in full force and effect to the extent necessary to implement the exercise of any share options granted before its termination or other circumstances as may be stipulated in the provisions of the existing share option plan. The board of directors resolved on July 21, 2026 to terminate the existing share option plan after the new share option plan is unconditionally adopted.

The new share option scheme will enable the company to continue to recognize and acknowledge the contributions or potential contributions of eligible participants to the Group by granting share options, and to align their interests with those of the Group. The company's ability to continue to grant share options in addition to existing share award programs provides the company with another form of incentive that is more suited to the needs of each eligible participant.

The total maximum number of shares that may be issued under the new share option scheme and any other share plan (including but not limited to existing share award schemes) shall not exceed 10% of the company's issued share capital (excluding treasury shares) on the date of adoption; and within this limit, the maximum number of shares that may be issued under the new share option plan and any other share plan to grant service providers under the new share option plan and any other share plan shall not exceed 1% of the total number of shares issued (excluding treasury shares) on the date of adoption.