Hong Kong retail Forex broker KVB Kunlun Financial Group Ltd (HKG:8077) on Wednesday officially offered to grant share options to 95 eligible participants. They are offered to subscribe for a total of 40,000,000 new ordinary shares of HK$0.01 each, in accordance with a share option scheme the broker has adopted in June 2013.
The exercise price is set at HK$0.95 per share, which represents the highest of:
- the closing price of HK$0.88 per share as stated in the daily quotation sheets of The Stock Exchange of Hong Kong Limited on the Date of Grant;
- the average closing price of HK$0.95 per share as stated in the daily quotation sheets of the Stock Exchange for the five business days immediately preceding the Date of Grant;
- the nominal value of HK$0.01 per share.
Out of all eligible participants, 35 are granted Options which are exercisable for a period of three years commencing on the Date of Grant to August 18, 2018.
Out of all eligible participants, 12 are granted Options which are exercisable for a period of three years commencing on the date falling on the first anniversary of the Date of Grant to August 18, 2019.
The remaining 48 Grantees are granted Options which are exercisable for a period of two years commencing on the date falling on the second anniversary of the Date of Grant to August 18, 2019.
Amid the total of 40,000,000 Options granted, Options to subscribe for 12,200,000 shares were granted to the directors and chief executive of KVB:
Shares in KVB gained ground today after dropping to HK$0.85 at some point on Wednesday (August 19, 2015). At the moment of publication of this article, one share in the broker trades for HK$ 0.89, up 1.14% from yesterday’s market close.
Chart source: Google Finance.
To view the official press release on the grant of share options, click here.