News

Offer And Grant Of Options Of Up To Fifteen Per Centum (15%) Of The Total Number Of Issued Shares Of the Company (Excluding Treasury Shares) Pursuant To The Long Term Incentive Plan ("LTIP")

BackJun 20, 2022
Type Announcement
Subject OTHERS
Description

AWANBIRU TECHNOLOGY BERHAD ("AWANTEC" OR "THE COMPANY") - OFFER AND GRANT OF SHARES OF UP TO FIFTEEN PER CENTUM (15%) OF THE TOTAL NUMBER OF ISSUED SHARES OF THE COMPANY (EXCLUDING TREASURY SHARES) PURSUANT TO THE LONG TERM INCENTIVE PLAN ("LTIP")

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the LTIP.

 

Reference is made to the LTIP, which was approved by the shareholders of AWANTEC on 15 September 2020 and later implemented on 25 January 2021.

 

Pursuant to Paragraph 9.19(51) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Company wishes to announce that the Company has today made the first award of shares to the director and employees of AWANTEC in accordance with the By-Laws of the LTIP. The LTIP Shares will be vested in three (3) tranches, i.e. on 30 June 2022, 30 June 2023 and 30 June 2024.

 

Eligible director and employees of AWANTEC and its subsidiary companies have seven (7) days to send their one-time acceptances for the new award, which particulars are as set out below: -

 

1.

Date of offer of the LTIP Shares

:

20 June 2022

 

2.

Number of offered LTIP Shares

:

922,500

 

3.

Closing market price of the Company’s shares on the date of offer

 

:

RM0.41

4.

Number of Shares offered to Director of the Company

:

Name

No. of LTIP Shares offered

Baldesh Singh a/l Manmohan Singh

276,400

 

5.

Vesting dates of the LTIP Shares offered

:

For the Eligible Employees of the Company (Excluding the Eligible Director of the Company)

 

Tranches

Vesting dates

No. of LTIP Shares offered

1st

30 June 2022

322,900

2nd

30 June 2023

193,900

3rd

30 June 2024

129,300

 

For the Eligible Director of the Company

 

Tranches

Vesting dates

No. of LTIP Shares offered

1st

30 June 2022

138,200

2nd

30 June 2023

82,900

3rd

30 June 2024

55,300

 

 

This announcement is dated 20 June 2022.




Announcement Info

Company Name AWANBIRU TECHNOLOGY BERHAD
Stock Name AWANTEC
Date Announced 20 Jun 2022
Category General Announcement for PLC
Reference Number GA1-15062022-00019