Wangchen Technology Holdings (02458.HK) has granted 4.7429 million shares of reward shares under the 2023 stock incentive plan.

Wisdom Finance APP News, Wanchen Technology Holdings (02458.HK) announced that, according to the grant, the board has decided to issue a total of 4.7429 million new shares to an independent trustee based on the general authorization granted by shareholders at the 2024 annual general meeting. As a result, the company will be authorized to allocate, issue, and deal with up to 27.6 million shares, and to grant 4.7429 million shares to 61 employee participants (grantees) in the 2023 share award plan on July 11, 2024. The reason for granting awards under the 2023 stock award plan is to recognize and reward the grantees for their contributions to the Group's growth and development, as well as to incentivize them to continue contributing to the Group's operations and development. The issuance of shares does not require further approval from shareholders. Apart from the share issue, as of the date of this announcement, there have been no other issues or allocations of new shares under the aforementioned general authorization.