China Lesso Group terminates share award scheme

China Lesso Group Holdings Limited has resolved to terminate its Share Award Scheme, initially adopted on August 28, 2018, effective August 31, 2025. The decision comes as no shares have been awarded under the scheme since its inception, and the company does not anticipate granting further awards before its expiry. The termination aims to reduce administrative costs and is considered to be in the best interest of the company and its shareholders.

The board confirmed that the termination will not affect any subsisting rights of any selected participants, as there had been no participants in the scheme. Consequently, the company expects no material adverse impact from this termination.

As of the announcement date, 22,991,000 shares were held in the Trust under the scheme. These remaining shares will be managed within a reasonable timeframe, in accordance with the Trust Deed. The company will collaborate with the trustee on all matters pertaining to the termination process.