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Offer Of Share Option Plan ("SOP") Options Under The Long Term Incentive Plan ("LTIP") Of The Company

BackOct 14, 2024
Type Announcement
Subject OTHERS
Description SARAWAK CONSOLIDATED INDUSTRIES BERHAD
("SCIB" OR "THE COMPANY") - OFFER OF SHARE OPTION PLAN ("SOP") OPTIONS UNDER THE LONG TERM INCENTIVE PLAN ("LTIP") OF THE COMPANY

Reference is made to the LTIP which was implemented by the Company on 24 July 2024.

Pursuant to Paragraph 9.19 (51) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that it has on 14 October 2024, made an offer of SOP Options to certain eligible Directors and employees of the Company and its subsidiaries to subscribe for new ordinary share(s) in the Company (“SCIB Share(s)”) under the LTIP. The details of the offer are as follows:-  

1.

Date of offer

14 October 2024

2.

Exercise price of options offered 

RM0.2205 per share (up to 10% discount from the 5-day weighted average market price (“VWAP”) of SCIB from 7 Oct 2024 to 11 Oct 2024 of RM0.2449 per Share)

3.

Number of options offered

 88,110,139 options

4.

Closing market price of SCIB Shares on the date of offer

 RM0.2449 (5-day VWAP from 7 Oct 2024 to 11 Oct 2024)

5.

Number of options offered to Directors

1. Ku Chong Hong (29,643,193 options)

2. Chiew Jong Wei (19,762,129 options)

6.

Vesting period of the options offered 

The SOP Options are immediate vested from the date of offer.

This announcement is dated 14 October 2024.

Announcement Info

Company Name SARAWAK CONSOLIDATED INDUSTRIES BERHAD
Stock Name SCIB
Date Announced 14 Oct 2024
Category General Announcement for PLC
Reference Number GA1-14102024-00028
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