pennpursuit35000le| GCL Technology (03800.HK): Cancel the share award plan to issue new shares and only acquire existing shares from the market

News summary

GCL Technology (03800pennpursuit35000le.HK) The board of directors decided to delete the clause in the share award plan involving the issuance of new sharespennpursuit35000le, starting from April 30, 2024, the awarded shares will only be derived from existing shares acquired in the market.

Newsletter text

[The board of directors of GCL Technology (03800.HK) announced the cancellation of the terms for issuing new shares under the share award plan] GCL Technology (03800.HK) revealed in an announcement on April 30 that the company's board of directors has decided to delete the relevant terms of the share award plan involving the issuance and allotment of new shares under the plan from April 30, 2024, including the terms involving professional trustees appointed by the board of directors. After this adjustment, the awarded shares will only come from the company's existing shares purchased by the trustee on the market, and no new shares will be issued. As of the announcement date, no new shares have been issued under the plan. This change is expected to have a certain impact on secondary market investors.