Zhejiang Yongtai Polytron Technologies Inc has on employment equity incentive object to have been granted but not yet unlocked cancellation of restricted stock buyback completed notice
The company and all members of the board of directors to ensure that the content of information disclosure is true, accurate and complete, no false records, misleading statements or material omissions.
Special tips:
1, the cancellation of the buyback has left the equity incentive object Zhang Zibao, Shi Zhaogang and Chen Liping have been granted but not yet unlocked restricted shares totaling 109 thousand and 200 shares, accounting for Zhejiang Yongtai Polytron Technologies Inc (hereinafter referred to as the "company") before the repurchase 798610481 shares of the total share capital of 0.0137%.
2, the above three have been granted but not yet unlocked a total of restricted shares of 109 thousand and 200 shares, repurchase price of $2.11 / share. Company in December 9, 2016 in China Securities Depository and Clearing Co., Ltd. Shenzhen branch completed the restricted stock repurchase cancellation procedures.
First, the equity incentive plan
1, December 21, 2013, Third Session of the fourth meeting of the board of directors approved "on the" Zhejiang Yongtai Polytron Technologies Inc restricted stock incentive plan (Draft) on its abstract motion "," on the "Zhejiang Yongtai Polytron Technologies Inc equity incentive plans to implement assessment measures on the motion", "on the general meeting to authorize the board to handle the companys equity the incentive plan matters related to the motion". The draft stipulates that the company intends to grant 4 million 800 thousand shares of restricted stock incentive target to (the final number of actual Subscription Date), the number of 4 million 490 thousand shares for the first time grant, awarded for the number 110, for 310 thousand shares.
2, December 21, 2013, Third Session of the second meeting of the board of supervisors approved "on the" Zhejiang Yongtai Polytron Technologies Inc restricted stock incentive plan (Draft) on its abstract motion "," on the "Zhejiang Yongtai Polytron Technologies Inc equity incentive plans to implement assessment measures on the motion", "on the verification of the companys restricted stock incentive plan incentive the list of object motion".
3, January 13, 2014, the Commission submitted to the companys "Zhejiang Yongtai Polytron Technologies Inc restricted stock incentive plan (Draft)" and had no objection to confirm the record.
4, January 23, 2014, the companys third session of the board of directors of the fifth meeting examined and adopted the motion on the convening of the company in 2014 the second extraordinary general meeting.
5, February 21, 2014, the company held in 2014 second extraordinary general meeting, passed the "Zhejiang Yongtai Polytron Technologies Inc restricted stock incentive plan (Draft)" and the "Zhejiang Polytron Technologies Inc, Yongtai restricted stock incentive plans to implement assessment methods", "on the general meeting authorize the board to handle the companys equity incentive plan related matters motion".
6, March 17, 2014, Third Session of the tenth meeting of the board of directors considered and adopted the "on the adjustment of restricted stock incentive grant list and grant number bill", "about to grant restricted stock incentive target motion", as the date of the grant, due to the departure of incentive objects or personal reasons to give up or reduce the subscription should be granted the total of 290 thousand shares of restricted stock, adjusted the total number of restricted stock adjustment from 4 million 800 thousand shares to 4 million 510 thousand shares, for the first time to be granted incentive target number decreased from 110 to 104, because the incentive object Mr. Luo Jianrong, Ms. Chen Lijie and MS. Xiang Yuyan before the grant date 6 months to sell the stock of the suspension of behavior granted, for the first time the actual incentive target of 101 people, the actual number of restricted stock granted 3 million 730 thousand shares, 470 thousand shares awarded reprieve, The number of reserved restricted shares is 310 thousand shares.
The suspension of the grant, after the relevant conditions meet the board of directors of the board of directors will convene a meeting to consider the granting of restricted shares three.
7, according to the third tenth meeting of the board of directors and the third board fifth meeting of the board of directors of the company to implement and complete the restricted stock grant, and disclosed in the March 27, 2014 completion of the award. For the first time granted to the company in March 18, 2014, the actual first incentive object for the
101, the actual number of restricted shares granted to the order of 3 million 730 thousand shares. During the payment on the date of the grant, the company incentive object Liu Shengming, Qian Debing for personal reasons to give up part of the subscription total of 6000 shares of restricted stock, so the number of incentive and the third session of the tenth meeting of the board of directors resolution announcement number, but the first grant number occurred slightly changes from 3 million 730 thousand shares adjusted to 3 million 724 thousand shares.
8, March 29, 2014, the companys third session of the board of directors of the eleventh meeting examined and adopted the "on the increase in the companys registered capital and modify the articles of association of the motion"
9, September 12, 2014, Third Session of the sixteenth meeting of the board of directors approved "on the grant of restricted stock motion" to the incentive target, incentive target of Mr. Luo Jianrong, awarded the Chen Lijie suspension and MS. Xiang Yuyan granted 470 thousand shares of restricted stock, and on the same day held the third session of the eighth meeting of the board of supervisors, incentive the qualification of the object and determine the list of companies were verified. Independent directors of the company issued an independent opinion, that the main object of the incentive legal qualification and effective, determine the grant date in line with the relevant provisions.
10, January 13, 2015, Third Session of the twenty-third meeting of the board of directors approved "on the reservation granted restricted stock motion" to the incentive object, of 23 incentive granted a total of 310 thousand shares of restricted stock, and on the same day convened the third session of the thirteenth meeting of the board of supervisors, the incentive object and list the company to determine the qualification verify. Independent directors of the company issued an independent opinion, that the main object of the incentive legal qualification and effective, determine the grant date in line with the relevant provisions.
11, January 26, 2015, the third session of the twenty-sixth meeting of the board of directors and the third session of the fourteenth meeting of the board of supervisors approved "on the cancellation of repurchased equity incentive object to leave has been granted but not yet unlocked the restricted stock motion", agreed to repurchase cancellation five former incentive objects have been granted but restricted stock yet to unlock a total of 110 thousand shares, the repurchase price of 6.18 yuan / share. March 24, 2015, the company completed the above-mentioned shares have been held by the incentive object has been granted but not yet unlocked a total of restricted stocks
110 thousand share repurchase cancellation. The cancellation of the repurchase does not affect the companys restricted stock incentive plan continues to implement.
12, April 7, 2015, the third session of the twenty-eighth meeting of the board of directors and the third session of the sixteenth meeting of the board of supervisors approved "on the restricted stock incentive plan first unlock unlock motion", the number of restricted shares can be traded for 1445600 shares of restricted stock, for 40% of the total grant for the first time the number is 96.
The list of conditions and the board of supervisors of incentive restricted stock incentive plan of the first phase of unlocking can unlock the verification, the independent directors of the company issued a separate opinion, Shanghai Allbright law firm issued a legal opinion.
In April 16, 2015 13, the company held the 2014 annual general meeting of the 2014 annual profit distribution plan, specifically: 03 2015 to 24 March, the total share capital of 285251029 shares as the base, to all shareholders for every 10 shares 1 yuan cash dividend (including tax), the distribution of pre case total cash payment of 28525102.90 yuan, the remaining the distribution of profits carried forward to next year; to the capital fund to all shareholders 10 shares for every 18 shares. In April 29, 2015, the company implemented the equity distribution.
14, September 25, 2015, the third session of the fortieth meeting of the board of directors and the third session of the nineteenth meeting of the board of supervisors approved "on the restricted stock incentive plan to suspend part of the first unlock unlock motion", the number of restricted shares can be listed circulation of 526400 shares, the number is 3.
The list of conditions and the board of supervisors of the incentive restricted stock incentive plan to suspend part of the first phase of unlocking can unlock the verification, the independent directors of the company issued a separate opinion, Shanghai Allbright law firm issued a legal opinion.
15, January 27, 2016, the third session of the forty-fourth meeting of the board of directors and the third session of the twenty-second meeting of the board of supervisors approved "on the cancellation of repurchased equity incentive object to leave has been granted but not yet unlocked the restricted stock motion", two people have agreed to repurchase cancellation has been granted but turnover incentive restricted stock yet to unlock a total of 92 thousand and 400 shares, the repurchase price of 2.17 yuan / share (April 29, 2015 equity distribution adjusted number of shares and the price).
April 5, 2016, the company completed the above-mentioned shares have been held by the incentive object has been granted but not yet unlocked a total of 92 thousand and 400 shares of restricted stock repurchase cancellation. The cancellation of the repurchase does not affect the companys restricted stock incentive plan continues to implement.
16, April 29, 2016, the third session of the fifty-first meeting of the board of directors and the third session of the twenty-fifth meeting of the board of supervisors approved "on the restricted stock incentive plan for the first time granted restricted stock second unlock unlock and reserved for restricted stock granted the first unlock unlock motion", the number of restricted stock actual can be traded for 3423560 shares, the number is 117.
The board of supervisors of restricted stock incentive plan for the first time to the list of restricted stock second unlock unlock and reserved for granted restricted stock first unlock unlock condition and incentive objects were checked, the independent directors of the company issued a separate opinion, Shanghai Jin City law firm issued a legal opinion in this regard.
17, September 30, 2016, the fourth session of the second meeting of the board of directors and the fourth session of the second meeting of the board of supervisors approved "on the restricted stock incentive plan to suspend part second unlock unlock motion" and "on the cancellation of repurchased equity incentive on the left as to have been granted but not yet unlocked restriction stock motion". The restricted stock granted to suspend part of actual traded quantity of 394800 shares, the number of 3 people; three people have agreed to repurchase cancellation turnover incentive object has been granted but not yet unlocked restricted shares totaling 109 thousand and 200 shares, the repurchase price of 2.11 yuan / share (June 24, 2016 equity distribution adjusted number of shares and the price).
The board of supervisors of the bill issued a verification opinion, the independent directors of the company issued a separate opinion, Shanghai Allbright law firm issued a legal opinion.
Two, the restricted stock repurchase cancellation
In September 30, 2016, the fourth session of the second meeting of the board of directors and the fourth session of the second meeting of the board of supervisors approved "on the cancellation of repurchased equity incentive object to leave has been granted but not yet unlocked the restricted stock motion", agreed to repurchase cancellation three former incentive object has been granted but not yet unlocked restricted stock a total of 109 thousand and 200 shares.
According to the company in 2014 second extraordinary general meeting to consider the adoption of the "on the general meeting authorize the board to handle the companys equity incentive plan related matters motion", and "restricted stock incentive plan (Draft)" ninth chapter "restricted stock incentive plans change, termination and other matters" "fortieth incentive due to the departure of the object not unlock the underlying stock by the company to repurchase and cancellation of the relevant provisions, the board of directors of the company decided to implement the legal authorization to repurchase cancellation has made a general meeting of the company.
The original Zhang Zibao, Shi Zhaogang and Chen Liping incentive object on the basis of restricted stock incentive plan were granted restricted stock 80 thousand shares, 30 thousand shares and 20 thousand shares, grant price of 6.18 yuan / share, second unlocking unlock after the current remaining 24 thousand shares, 9 thousand shares and 6 thousand shares unlocked (all equity allocation shares before April 29, 2015 and the price).
In April 2015 the company implemented the 2014 equity distribution program: in March 24, 2015 the companys total share capital of 285251029 shares as the base, to all shareholders for every 10 shares 1 yuan cash dividend (including tax), to the capital fund to all shareholders 10 shares for every 18 shares.
June 2016 implementation of the companys annual equity distribution program in 2015: 04 months of 2016, the companys total share capital of 798610481 shares as the base, to all shareholders for every $10 cash dividend of 0.60 yuan (including tax). 2015 does not carry out capital accumulation fund.
According to the "restricted stock incentive plan (Draft)" twelfth chapter "repurchase cancellation" of the principle of "fifty-fifth company according to the provisions of cancellation of restricted stock repurchase plan, the repurchase price for grant price, but according to the adjustment of the repurchase price except" and "fifty-sixth number of repurchase and repurchase price adjustment methods the plan required: if the restricted stock granted in the company after the capital reserve capitalization, stock dividends, dividends, delivery, stock split shrink wait events occurred, such as in accordance with the provisions of the plan need to repurchase cancellation, the company shall cancel the corresponding stock repurchase and the interest, the number of repurchase and repurchase price adjustment method with grant number the price adjustment method and grant. According to the provisions of article forty-seventh and article forty-eighth, the adjustment methods are as follows:
1, the number of shares to be awarded the adjustment method: the capital reserve into shares, stock dividends, stock split
Q = Q0 * (1n)
Where: Q0 is the number before the adjustment of the underlying stock; the ratio of n for a share of the capital reserve fund, stock dividends, stock split delivery (i.e. the number per share increase, the increase of stock bonus or split); Q is the number of adjusted stock.
Therefore, this will cancel the original purchase of the original incentive target Zhang Zibao, Shi Zhaogang and has been granted the number of restricted shares have not been granted 67 thousand and 200 shares, and a total of 25 thousand and 200 shares of the shares, and a total of 109 thousand and 200 shares of $16 thousand and 800, respectively, and the total number of shares of the stock market, the total number of shares in the stock market, the total number of shares in the stock market, the total number of shares of the company has been granted, but also has not yet been unlocked.
2, awarded the price adjustment method of capital accumulation fund shares, stock dividends, stock split delivery: P = P0 / (1n)
Of which: P0 for the adjustment of the grant price; n for the capital reserve fund, the stock dividend, stock split ratio; P for the adjusted price.
Dividend: P=P0-V
Of which: P0 is adjusted before the grant price; V is the amount of dividends per share; P for the adjusted price.
After dividend adjustment, P must be positive.
Restricted stock repurchase price P= (6.18-0.1) / (1+1.8) -0.06=2.11 yuan / share
In October 2016 01, the company in the "Securities Times" and cninf
(http://www.cninfo.com.cn) issued "on the cancellation of repurchased equity incentive object to leave has been granted but not yet unlocked restricted stock reduction announcement" (Notice No.: 2016-102), within forty-five days of the company did not receive the creditors to provide security or to pay off the debts in advance since the announcement of the request.
In November 28, 2016, Lixin Accounting firm (special general partnership) issued a letter to rendezvous Bao verification report word [2016] No. 610903rd, "as of November 25, 2016, the company after the change of the registered capital of 798501281 yuan, 798501281 yuan equity."
As of the date of this announcement, the company completed the withdrawal of the above has been the object of equity incentive has been granted but has not yet unlocked a total of 109 thousand and 200 shares of restricted stock repurchase cancellation.
The cancellation of the repurchase does not affect the companys restricted stock incentive plan continues to implement. Three, after the completion of the repurchase cancellation of the companys share capital structure changes