VICTORY SEC (08540) plans to adopt a new share plan and terminate the existing share plan.
Victory Securities (08540) announced that the company adopted the Stock Option Plan of 2018 and the Share Incentive Plan of 2020 on June 14, 2018 and August 11, 2020, respectively. The plans will remain valid for a period of 10 years from the adoption date, but the company may terminate them in advance with an ordinary resolution at a shareholders' meeting. In view of the amendments to Chapter 23 of the GEM Listing Rules which came into effect on January 1, 2023, the board of directors recommends terminating the existing share plan and replacing it with a new share plan.
VICTORY SEC (08540) announces that the company adopted the 2018 Stock Option Plan and the 2020 Stock Incentive Plan on June 14, 2018 and August 11, 2020 respectively. The plans will remain valid for a period of 10 years from the adoption date, but the company may terminate them early with an ordinary resolution at a shareholders' meeting. In light of the amendments to Chapter 23 of the GEM Listing Rules, which will take effect on January 1, 2023, the board recommends terminating the existing stock incentive plans and replacing them with a new stock incentive plan.
Adoption of the new stock incentive plan will be subject to approval by shareholders at the annual general meeting. The company will seek approval from the Listing Committee of the Stock Exchange for the listing and trading of shares that may be issued and distributed under the new stock incentive plan.
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