Huazhang Technology : Announcements and Notices - Grant of Share Options

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Huazhang Technology Holding Limited 華章科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1673)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to rule 17.06A of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board (the "Board") of directors (the "Director(s)") of Huazhang Technology Holding Limited (the "Company", together with its subsidiaries, collectively the "Group") hereby announces that on 15 January 2019 (the "Date of Grant"), a total of 19,000,000 share options (the "Share Options") were granted to certain Director and employees of the Group (the "Grantees") to subscribe for shares of HK$0.01 each of the Company (the "Share") under the share option scheme of the Company adopted on 6 May 2013, subject to acceptance of the Grantees and the payment of HK$1 by each of the Grantee upon acceptance of the Share Options.

The following are the details of the Share Options granted:

Date of Grant:	15 January 2019
Exercise price of Share	HK$4.04, being the highest of:
Options granted:	a) the closing price of HK$4.04 per Share as stated in the
daily quotations sheet of the Stock Exchange on the Date
of Grant;
Number of Share Options
granted:

• b) the average closing price of HK$4.03 per Share as stated in the daily quotations sheets of the Stock Exchange for the five business days immediately preceding the Date of Grant; and

• c) the nominal value of HK$0.01 per share

19,000,000 Share Options, each entitling the Grantee to subscribe for one Share

Closing price of the Shares	HK$4.04 per Share
on the Date of Grant:
Validity period of the Share	The Share Options shall be vested and are exercisable in the
Options:	following manners:

A. 9,000,000 Share Options

• (1) 3,000,000 Share Options to be vested from 15 January 2020 to 14 January 2021 (both dates inclusive) and are exercisable from 15 January 2021 to 14 January 2031 (both dates inclusive);

• (2) 3,000,000 Share Options to be vested from 15 January 2021 to 14 January 2022 (both dates inclusive) and are exercisable from 15 January 2022 to 14 January 2032 (both dates inclusive);

• (3) 3,000,000 Share Options to be vested from 15 January 2022 to 14 January 2023 (both dates inclusive) and are exercisable from 15 January 2023 to 14 January 2033 (both dates inclusive); and

B.

10,000,000 Share Options

10,000,000 Share Options to be vested from 15 January 2020 to 14 January 2023 (both dates inclusive) and are exercisable within 10 years commencing from the date of vesting;

provided always that the Grantee shall remain as a Director, or an employee of the Group at the time of the exercise of the Share Options and satisfy certain performance criteria.

The Share Options were granted to the Director and certain employees with details as follows:

Name of Grantee	Number of Share Option
Jin Hao (Executive director)	450,000
Employees	18,550,000
19,000,000

Save as disclosed above, none of the Grantee is a director, chief executive or substantial shareholder of the Company or any of their respective associates (as defined in the Listing Rules) as at the date of this announcement. In accordance with Rule 17.04(1) of the Listing Rules, the grant of the Share Options to the above Director has been approved by the independent non-executive Directors.

On behalf of the Board Huazhang Technology Holding Limited

Zhu Gen Rong

Chairman

Hong Kong, 15 January 2019

As at the date of this announcement, the executive Directors are Mr. Zhu Gen Rong, Mr. Wang Ai Yan, Mr. Liu Chuan Jiang, Mr. Jin Hao and Mr. Liang Huiqun, and the independent non-executive Directors are Mr. Dai Tian Zhu, Mr. Kong Chi Mo and Mr Heng, Keith Kai Neng.