21 May 2015 11:08
For immediate release 21 May 2015
Asian Citrus HoldingsLimited
("Asian Citrus" or the "Company")
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 "Stock Exchange" and the "Listing Rules", respectively).
Asian Citrus announces that on 21 May 2015 (the "Date of Grant"), share options (the "Options") over 27,000,000 new ordinary shares of HK$0.01 each in the share capital of the Company (the "Shares") were granted to staff and certain executive directors (the "Grantees") under the share option scheme adopted by the Company on 2 November 2009. Of the Options granted, 4,000,000 have been granted to certain executive directors.
The Options have an exercise price of HK$1.47 per Share, being the highest of (i) the closing price of HK$1.47 per Share as quoted in the Stock Exchange's daily quotation sheet on the Date of Grant; (ii) the average closing price of HK$1.298 per Share as quoted in the Stock Exchange's daily quotation sheets for the five business days immediately preceding the Date of Grant; and (iii) the nominal value of HK$0.01 per Share. The Options will be valid from 21 May 2015 to 20 May 2019 and can be exercised in full or in part by each Grantee from time to time during the period commencing from the first anniversary of the Date of Grant until 20 May 2019.
There is no consideration payable in respect of the grant of the Options.
Details of the Options granted to executive directors are set out below:
Executive Directors | Number of Options granted | Number of existing Options held by the Director before grant of Options | Number of existing Shares held by the Director before grant of Options |
Mr. Ng Ong Nee (Chief Executive Officer) | 1,600,000 | - | - |
Mr. Tong Hung Wai, Tommy (Vice Chairman) | 800,000 | 1,350,000 | - |
Mr. Cheung Wai Sun | 800,000 | 1,110,000 | - |
Mr. Ng Cheuk Lun (Chief Financial Officer and Company Secretary) | 800,000 | - | - |
In accordance with Rule 17.04(1) of the Listing Rules, the grant of Options to each of the above Directors had been approved by the independent non-executive Directors. Saved as disclosed above, none of the Grantees is a director, chief executive or substantial shareholder (as defined under the Listing Rules) of the Company or any of their respective associates (as defined under the Listing Rules) as at the date of this announcement.
For further enquiries please contact:
Asian Citrus +852 2559 0323
Mark Ng, Executive Director and Chief Financial Officer
Cantor Fitzgerald Europe (NOMAD and Broker) +44 (0) 20 7894 7000 Rick Thompson/David Foreman (Corporate Finance)
Richard Redmayne(Corporate Broking)
Weber Shandwick Financial +44 (0) 20 7067 0700 Nick Oborne, Stephanie Badjonat, Tom Jenkins