London, United Kingdom, January 29, 2013 --(PR.com
)-- The WSAS is based on the closing price of $52.30 per share, and resolved to award 850,000 shares to 145 qualified selected employees.
Pursuant to the Worker’s Share Award Scheme, the Board unanimously decided to distribute the shares to a few selected employees as a gesture of appreciation to their valuable contributions and endow motivation purposefully to retain them for the continual operation and development of National Futures and Commodities Exchange. The Awarded Shares represent approximately 0.09% of the issued share capital of National Futures and Commodities Exchange as at the Adoption Date. Based on today's closing price of $52.30 per share, the award amounted to approximately $25M.
The Awarded Shares and the attached proceeds consequent there are subject to a vesting scale by which the Awarded Shares and the related income will be vested on the Selected Employees in tranches of 27% each on every anniversary date of the Reference Date starting from the second anniversary date until the fifth. When the Selected Employee has satisfied all the vesting conditions specified by the Board at the time of making the award and become entitled to the shares forming the subject of the award, the Trustee shall transfer the relevant vested shares (awarded shares, related scrip distribution and further shares acquired or subscribed out of the proceeds derived therefrom) to that employee at no cost.
Particulars of the Worker’s Share Award Scheme regulations are available from National Futures and Commodities Exchange Resource Center.