ADOPTION OF THE NEW SHARE OPTION Sample Clauses

ADOPTION OF THE NEW SHARE OPTION. SCHEME The Expired Share Option Scheme The Expired Share Option Scheme was adopted by the Company on 20 April 2005. Under the terms of the Expired Share Option Scheme, unless otherwise terminated, the Expired Share Option Scheme would be valid and effective for a period of 10 years from the date of its adoption. Accordingly, the Expired Share Option Scheme expired on 19 April 2015. Apart from the Expired Share Option Scheme, the Company had no other subsisting share option scheme as at the Latest Practicable Date. Up to the Latest Practicable Date, the total number of Options granted, exercised, cancelled/lapsed under the Expired Share Option Scheme amounted to 414,200,000 Shares, 311,669,800 Shares and 38,260,000 Shares respectively. As at the Latest Practicable Date, there were in aggregate 64,270,200 Options outstanding which will continue to be valid and exercisable during the prescribed exercisable period in accordance with the rules of the Expired Share Option Scheme after the Expired Share Option Scheme has expired. Proposed adoption of the New Share Option Scheme As the Expired Share Option Scheme expired on 19 April 2015, the Board proposes to adopt the New Share Option Scheme to replace the Expired Share Option Scheme to provide the Eligible Participants with an opportunity to obtain an equity interest in the Company, thus linking their interest with the interests of the Group and thereby providing them with an incentive to work better for the interests of the Group by granting Options to them. In furtherance of this objective, certain changes from the terms of the Expired Share Option Scheme are proposed for the New Share Option Scheme. The major changes are:
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Related to ADOPTION OF THE NEW SHARE OPTION

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