Yanzhou Coal Australia issued a total of 1.1414 million short-term incentive plan rights

Intelligence Finance APP News, Yancoal Australia (03668) announced that on April 19, 2024, the company issued a total of 1.1414 million short-term incentive plan rights to several senior management and senior executives (nine of whom are also directors of the company's subsidiaries) at zero issue price as part of the revised short-term incentive plan under the equity incentive plan, aiming to reward eligible participants for achieving company business goals consistent with the company's financial, operational, and strategic priorities and the individual goals of eligible participants.

The short-term incentive plan rewards are divided into two parts: 50% paid in cash on March 15, 2024, and the remaining 50% of the short-term incentive plan rewards will be allocated in equal installments over two years. Specifically, 570,700 short-term incentive plan rights (approximately 25% of the short-term incentive plan rewards) will be allocated on March 1, 2025, and the remaining 570,700 short-term incentive plan rights (approximately 25% of the short-term incentive plan rewards) will be allocated on March 1, 2026, subject to the discretion of the board of directors. The board of directors may also decide to settle these rights in equity or cash.

The exercise price of the short-term incentive plan rights is zero, and as mentioned above, the allocation dates are March 1, 2025 (first 25%) and March 1, 2026 (second 25%).

If the short-term incentive plan rights are allocated and exercised and settled in shares, each eligible participant will have the right to receive 1 share of the company's common stock for each short-term incentive plan right. As of the date of this announcement, the 1.1414 million shares involved in the short-term incentive plan rights granted to eligible participants account for approximately 0.086% of the company's issued share capital.

If the short-term incentive plan rights granted under the company's equity incentive plan are settled in equity equivalents, the shares issued upon allocation and exercise of the short-term incentive plan rights will be paid with existing shares. Since the issuance of short-term incentive plan rights to eligible participants constitutes part of the compensation scheme under the service contracts entered into by them and the company, such issuance is exempt from the disclosure, announcement, and independent shareholder approval requirements under Rules 14A.73(6) and 14A.95 of the Listing Rules of The Stock Exchange of Hong Kong Limited