CHINA SHINEWAY PHARMACEUTICAL GROUP LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
CHINA SHINEWAY PHARMACEUTICAL GROUP LIMITED(Incorporated in the Cayman Islands with limited liability)
(Stock Code : 02877) GRANT OF OPTIONS UNDER THE SHARE OPTION SCHEMEThis 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 "Directors", each a "Director") of China Shineway Pharmaceutical Group Limited (the "Company") hereby announces that on 1 June 2016, the Board resolved to grant 1,000,000 share options (the "Share Options", each a "Share Option") to vice-president of human resources division, Mr. Han Jiansheng, subject to his acceptance, to subscribe for a total of 1,000,000 ordinary shares of HK$0.10 each in the capital of the Company (the "Shares", each a "Share"), under the share option scheme adopted by the Company on 29 May 2015.
Details of the grant of Share Options are as follows:
Date of grant of Share Options (the "Date of Grant"): | 1 June 2016 |
Exercise price of Share Options granted: | HK$8.39, which represents the highest of (i) the closing price per Share on the Date of Grant; (ii) the average closing price of HK$8.19 per Share as stated in the daily quotation sheets issued by the Stock Exchange for the five business days immediately preceding the Date of Grant; and (iii) the nominal value of the Share, being HK$0.10. |
Number of Share Options granted: | 1,000,000 Share Options (each Share Option shall entitle the holder thereof to subscribe for one Share) |
Closing price of each Share on the Date of Grant: | HK$8.39 |
Validity period of the Share Options: | 6 years from the Date of Grant |
Exercise period of the Share Options: | None of the Share Options will be exercisable during the year commencing on 1 June 2016. Subject to the level of achievement of the relevant performance targets (the "Performance Targets"), the Share Options will be exercisable in the following manner:
Any of the Share Options that are exercisable but are not exercised during the relevant year can be exercised in the following year(s) and provided that all the Share Options must be exercised within the period of 6 years from the Date of Grant. |
If the relevant Performance Targets in respect of a relevant year during the aforesaid 5 years are not achieved, the relevant part of the Share Options will lapse and will not be exercisable. | |
Mr. Han Jiansheng is not a Director, chief executive, substantial shareholder of the Company, or their respective associate (as defined under the Listing Rules).
Hong Kong, 1 June 2016.
By Order of the Board
China Shineway Pharmaceutical Group Limited Li ZhenjiangChairman
As at the date of this announcement, the executive Directors are Mr. Li Zhenjiang, Ms. Xin Yunxia, Mr. Li Huimin, Ms. Lee Ching Ton Brandelyn, and Mr. Chen Zhong and the independent non-executive Directors are Mr. Hung, Randy King Kuen, Ms. Cheng Li and Mr. Sun Liutai.
China Shineway Pharmaceutical Group Ltd. published this content on 01 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 01 June 2016 10:16:05 UTC.
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