China South Car stock option Incentive plan approved by SASAC

NetEase Financial November 19 News China Southern Car Friday evening issued a notice, the company November 19, the relevant official approval documents, the principle of the company to implement the stock option plan. Prior to the announcement, the China Southern Car stock options plan to use stock options as an incentive tool, the target stock for the China Southern car A-shares.　　The first proposed number of stock options is 36.74 million shares, accounting for the total amount of capital (11.84 billion shares) of 0.31%, which accounted for the same category of total capital (A shares, 9.816 billion shares) 0.374%, the right price is 5.43 yuan/share.　　The Stock options Plan (draft) shows that the total amount of the underlying stock (excluding already defunct stock options) and the company's other effective equity incentive plans (if any) involved in the stock options granted under the plan shall not exceed 10% of the total amount of the company's shares in the same category. Southern China says the stock options program is valid for 10 and is calculated from the date of approval by the shareholders ' meeting. Subject to the terms of the grant, the Board of Directors shall be entitled to grant stock options to qualified personnel, in principle, once every two years.　　The target stock source involved in this plan is to issue a shares of China South car A-share to the incentive target, and the equity subscription amount paid by the incentive object after the implementation of the stock option plan is used to replenish the company's liquidity. The Stock options Plan (draft) shows that China's southern Southland is the first to be awarded 328 people, accounting for the total number of staff of 0.38%. A total of 8 directors and senior managers were awarded the total number of stock options awarded to them at about 1.4 million shares, representing 3.81% of the total amount awarded. The stock options granted by this stock option scheme are valid for 7 years and are calculated from the date of award determined by the board. In addition, stock options will not be allowed to do so within two years from the date of grant.