Announcement on the Achievement of Exercise Conditions for the First Exercise Period of the Reserved Stock Options of the 2022 Stock Option Incentive Plan
The Company and all members of its Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and assume legal responsibility for any false representations, misleading statements, or material omissions therein.
Key Information Prompt:
- The number of stock options that can be exercised in this instance is: 1,794,374 units.
- Exercise price: 6.394 RMB/unit.
- Exercise mode: Independent exercise.
- The exercise of these stock options requires completion of relevant procedures at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited. A separate announcement will be made upon completion of these procedures, after which exercise will be possible.
- If all exercisable stock options are exercised, the company's shares will still meet listing conditions.
Hainan Strait Shipping Co., Ltd. (hereinafter referred to as the "Company" or "the Company") announces that the exercise conditions for the first exercise period of the reserved stock options granted under its "2022 Stock Option Incentive Plan (Draft Amendment)" (hereinafter referred to as the "Incentive Plan" or the "Plan") have been met. On April 27, 2026, the Company held its 8th Board of Directors' 22nd extraordinary meeting, which deliberated and approved the "Proposal on the Achievement of Exercise Conditions for the First Exercise Period of Reserved Stock Options under the 2022 Stock Option Incentive Plan." The relevant matters are hereby announced as follows:
I. Relevant Approval Procedures Completed for the Incentive Plan
(1) On September 23, 2022, the Company held its 7th Board of Directors' 11th extraordinary meeting (ad hoc), which deliberated and approved proposals including the "Proposal on the 2022 Stock Option Incentive Plan (Draft) and its Summary," "Proposal on the Performance Assessment and Management Measures for the 2022 Stock Option Incentive Plan," "Proposal on the Management Measures for the 2022 Stock Option Incentive Plan," and "Proposal Requesting the Shareholders' Meeting to Authorize the Board of Directors to Handle Matters Related to Equity Incentives." On the same day, the Company held its 7th Supervisory Board's 7th extraordinary meeting (ad hoc), which deliberated and approved proposals including the "Proposal on the 2022 Stock Option Incentive Plan (Draft) and its Summary," "Proposal on the Performance Assessment and Management Measures for the 2022 Stock Option Incentive Plan," and "Proposal on the Management Measures for the 2022 Stock Option Incentive Plan." The Company's independent directors issued independent opinions on whether the incentive plan is conducive to the Company's sustainable development and whether it harms the interests of the Company and all shareholders, and the Supervisory Board issued its review opinion.
(2) On March 29, 2023, the Company announced that it had received the "Reply on the Implementation of the Stock Option Incentive Plan of Hainan Strait Shipping Co., Ltd." (Guo Zi Kao Fen [2023] No. 73) from the State-owned Assets Supervision and Administration Commission of the State Council (hereinafter referred to as "SASAC"). SASAC principally agreed to the Company's implementation of the stock option incentive plan.
(3) On May 11, 2023, the Company held its 7th Board of Directors' 19th extraordinary meeting (ad hoc), which deliberated and approved proposals including the "Proposal on the 2022 Stock Option Incentive Plan (Draft Amendment) and its Summary." On the same day, the Company held its 7th Supervisory Board's 14th extraordinary meeting (ad hoc), which deliberated and approved the "Proposal on the List of Initial Grantees for the 2022 Stock Option Incentive Plan," and reviewed the list of initial grantees. The Company's independent directors issued independent opinions on whether the incentive plan is conducive to the Company's sustainable development and whether it harms the interests of the Company and all shareholders.