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HONG KONG, Mar 3, 2015 - (ACN Newswire) - Hanhua Financial Holding Co., Ltd. ("Hanhua" or the "Company", and, together with its subsidiaries, the "Group"; stock code: 3903), is pleased to announce that the First Extraordinary Meeting of the Board of Directors (the "Board") of the Company was held recently and the Board have considered and approved the proposal to adopt the Proposal on the Grant of Bonus in the form of Shares in Open Market to the Senior and Middle to Senior Management of Hanhua Financial Holding Co., Ltd. under the Share Incentive Scheme (the "Scheme").
The scope of participants includes the senior management and middle to senior management of the Company or its subsidiaries or branches upon the implementation of the Scheme. The source of shares of the Scheme is the issued public shares of the Company in the H Shares market, and such shares are acquired through dealings in the open market. The validity period is from the date of approval by the shareholders' general meeting to 31 December 2017.
The source of funds is the incentive fund accumulated in the Company by the participants (comprised of the portion of year-end performance-related remuneration of the participants). Participants of the Scheme can elect to contribute 40%-100% of their annual performance related remuneration to the share incentive fund and the total amount of funds under the Scheme during its validity period shall not exceed the total share incentive fund contributed by the participants. It is expected that the total amount of fund under the Scheme for 2014 is no more than RMB10 million.
Mr. Zhang Guoxiang, Chairman and President of Hanhua said, "The Scheme we proposed is on the grant of bonus in the form of shares in open market to the senior and middle to senior management of Hanhua, through which the interests of the core management are directly related with the Company's growth performance. The Scheme is expected to motivate the core management as well as to further stimulate the potential of all staff. I am very confident in the Company's long-term development and I decided to contribute 100% of my annual performance related remuneration to the share incentive fund, which also proved my firm commitment on Hanhua's growth prospect. Hanhua, on its track of development, will focus on the long-term development, benefits sharing and risk managmenet, thereby rapidly growing into a premier diversified and integrated financial service company in China."
About Hanhua Financial Holding Co., Ltd.
Hanhua Financial Holding Co., Ltd. ("Hanhua" or the "Company", and, together with its subsidiaries, the "Group" ; stock code: 3903) is the largest credit guarantee company and the third largest lender of micro and small loans in China in terms of geographical presence. The Group offered credit guarantee services and entrusted loans in 21 provincial administrative regions. It also developed micro and small loan services in 10 provincial administrative regions. As of 30 June 2014, the Group entered into cooperation arrangements with more than 60 commercial banks in China. These banks have agreed to extend over RMB40 billion of credit lines in aggregate to borrowers which the Company provides bank financing guarantees. With a strong capital base and robust financial performance, Hanhua received AA+ ratings from many of the credit rating agencies recognized by the Chinese government authorities. Hanhua seeks to further grow its business into a premier diversified and integrated financial service company in China.
Issued by Porda Havas International Finance Communications Group for and on behalf of Hanhua Financial Holding Co., Ltd.
Porda Havas International Finance Communications Group
Mr. Paul Sham +852 3150 6730 paul.sham@pordahavas.com
Ms. Camille Xiong +852 3150 6799 camille.xiong@pordahavas.com
Ms. Carven Tsui +852 3150 6703 carven.tsui@pordahavas.com
Ms. Ivy Lu +852 3150 6778 ivy.lu@pordahavas.com
Ms. Coco Cheng +852 3150 6795 coco.cheng@pordahavas.com
Fax: +852 3150 6728
Topic: Press release summary
Source: Hanhua Financial Holding Co., Ltd.
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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