The stock price plunges, the performance does not meet the high carbon element to abandon the equity incentive

Market continues to decline, some bear market can see the phenomenon began to emerge in large numbers, in addition to breaking net, break, withdrawal of equity incentive phenomenon began to appear. May 22, Fang Tai Carbon (600516, closing price of 6.66 Yuan) issued a notice announced the withdrawal of the equity incentive scheme.　　In addition to the stock price below the original set of line price, performance is another important reason.　　If all goes well, in mid-May this year will be the first bank of the power period, including executives, technical backbone of 382 people will participate in the right. Today (May 22), Fang Tai Carbon released a notice saying the withdrawal of the equity incentive plan. The announcement indicated that the company had passed the fourth session of the Board of directors at its fifth meeting on May 11, 2009 and submitted a filing application to the SFC.　　However, since the disclosure of equity incentive plans last May, domestic and foreign economic situation and security market has undergone significant changes, in this case, the original scheme has not been operable, if the continuation of the original program will be difficult to really play the necessary incentive effect, in accordance with the relevant provisions of the SFC, withdraw the equity incentive plan, appropriate adjustment, after the implementation.　　"Daily economic news" reporter looked at the current equity incentive scheme found that, in addition to the stock price below the stipulated line price, performance is not the right to meet the main reasons. The draft of equity incentive shows that the right price is 13.92 yuan, while the stock price of the right is not less than 15 yuan/share. As of yesterday, the side of the big Carbon reported 6.66 yuan, because in July 2009 in addition to the right to remove the situation, the right to the rear of the large carbon price only 13.56 yuan, are lower than the right price and the right to the line of 15 yuan. By the end of last year, the price of carbon stocks on the side of the lower, the cumulative decline of 43%.　　As stated in the bulletin, the implementation of the original programme will not be a motivating force. More importantly, the company's 2009 annual performance does not reach the right to claim.　　In terms of the right of ownership, it is clearly stipulated that the net profit after the non-recurrent gain of 2009 is not less than 110% of the average of the net profit of 2007 ~2008 year. Last year, the annual report showed that the net profit of carbon was only 24.9 million yuan after deducting the non-recurrent profit and loss, and the net profit of the company was 413 million yuan in 2008, which fell as high as 93.97% and 2007 net profit as high as 224 million yuan. It is clear that the conditions of the right to do so are not met.