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Precision Tsugami (China) Corp. Ltd. ( (HK:1651) ) has shared an announcement.
Precision Tsugami (China) Corporation Limited has granted 270,600 existing shares at nil consideration to 56 grantees under its share award scheme, using shares acquired from the secondary market through internal resources, thereby avoiding dilution for existing shareholders. The company has also amended the scheme rules so that grantees are now entitled to receive cash amounts equivalent to dividends declared on their awarded shares before vesting, enhancing the attractiveness of the scheme while keeping the related connected transactions within thresholds that are exempt from additional reporting and shareholder approval under Hong Kong listing rules.
The grants to directors and connected employees form part of their remuneration packages and have been approved by the board and remuneration committee in accordance with the listing rules, with relevant directors abstaining from voting on their own awards. As the scheme is funded solely with existing shares and does not involve issuing new equity, the amendments are not subject to general meeting approval, underscoring the company’s intent to incentivise management and staff without altering its share capital structure.
The most recent analyst rating on (HK:1651) stock is a Buy with a HK$44.00 price target. To see the full list of analyst forecasts on Precision Tsugami (China) Corp. Ltd. stock, see the HK:1651 Stock Forecast page.
More about Precision Tsugami (China) Corp. Ltd.
Precision Tsugami (China) Corporation Limited is a Cayman Islands-incorporated company listed in Hong Kong, operating in the precision machinery sector through its group subsidiaries. The group focuses on manufacturing and selling high-precision equipment, with an emphasis on maintaining shareholder-friendly capital management practices via the use of existing shares rather than new issuances.
Average Trading Volume: 1,329,469
Technical Sentiment Signal: Buy
Current Market Cap: HK$14.47B
Find detailed analytics on 1651 stock on TipRanks’ Stock Analysis page.