Velesto Energy Bhd

11/01/2019 | Press release | Distributed by Public on 11/01/2019 05:15

OTHERS VELESTO ENERGY BERHAD (VEB OR THE COMPANY) OFFER AND GRANT OF OPTIONS UNDER THE EMPLOYEES SHARE OPTION SCHEME OF UP TO 7.5% OF THE TOTAL NUMBER OF ISSUED SHARES OF VEB[...]

Bursa Announcements

Date : 01 November 2019

OTHERS VELESTO ENERGY BERHAD (VEB OR THE COMPANY) OFFER AND GRANT OF OPTIONS UNDER THE EMPLOYEES SHARE OPTION SCHEME OF UP TO 7.5% OF THE TOTAL NUMBER OF ISSUED SHARES OF VEB (EXCLUDING TREASURY SHARES, IF ANY) (ESOS)

VELESTO ENERGY BERHAD

Type Announcement
Subject OTHERS
Description
VELESTO ENERGY BERHAD (VEB OR THE COMPANY) 

OFFER AND GRANT OF OPTIONS UNDER THE EMPLOYEES SHARE OPTION SCHEME OF UP TO 7.5% OF THE TOTAL NUMBER OF ISSUED SHARES OF VEB (EXCLUDING TREASURY SHARES, IF ANY) (ESOS)

Reference is made to the ESOS which was approved by the shareholders of VEB on 31 October 2019 and implemented on 1 November 2019.

Pursuant to Paragraph 9.19(51) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, VEB wishes to announce that VEB has today made the first offer of options to the executive director and eligible employees of VEB and its subsidiary companies (excluding subsidiary companies which are dormant) under the ESOS. The details are as follows:

(1)

Date of offer

:

1 November 2019

(2)

Option exercise price

:

RM0.33

(3)

Number of options offered to:

(i) En Rohaizad Darus, President /

Non-Independent Executive Director

:

11,400,000

(ii) Other eligible employees

:

118,930,000

Total

:

130,330,000

(4)

Closing market price of VEB shares on the date of offer

:

RM0.35

(5)

Vesting period of the options offered

:

Three years from the Date of Offer, or any such earlier date as determined by the ESOS Committee.

This announcement is dated 1 November 2019.




Announcement Info

Company Name VELESTO ENERGY BERHAD
Stock Name VELESTO
Date Announced 01 Nov 2019
Category General Announcement for PLC
Reference Number GA1-01112019-00045