Man Wah grants time-vested share awards to 24 employees

Man Wah Holdings ( (HK:1999) ) has issued an announcement.

Man Wah Holdings has granted share awards involving 2,898,000 new shares, or about 0.07% of its issued share capital, to 24 employees under its 2024 Share Award Scheme. The grants are subject to acceptance and are structured so that staff pay a purchase price tied to the higher of 80% of the recent average closing price or par value on each vesting date.

The awards will vest in three tranches between March 2028 and March 2030, with no performance targets but subject to time-based vesting and a clawback mechanism. The board’s remuneration committee says the grant recognises past contributions, aims to support long-term growth and is considered competitive in the market while avoiding concentration limits for any single participant under Hong Kong listing rules.

The most recent analyst rating on (HK:1999) stock is a Buy with a HK$5.00 price target. To see the full list of analyst forecasts on Man Wah Holdings stock, see the HK:1999 Stock Forecast page.

More about Man Wah Holdings

Man Wah Holdings Limited is a Hong Kong-listed furniture group incorporated in Bermuda and traded under stock code 01999. The company, together with its subsidiaries, focuses on the design, manufacture and sale of furniture products, and employs a broad base of staff whose incentives are linked to long-term share-based schemes.

YTD Price Performance: 11.60%

Average Trading Volume: 5,331,250

Technical Sentiment Signal: Buy

Current Market Cap: HK$19.78B

For an in-depth examination of 1999 stock, go to TipRanks’ Overview page.