Overseas Regulatory Announcement- Grant of Options

HSBC Holdings PLC
28 September 2023
 

The following is the text of an announcement released to the Stock Exchange of Hong Kong Limited on 28 September 2023 pursuant to rules 17.06A, 17.06B and 17.06C of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited:

 

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document.


 

28 September 2023

(Hong Kong Stock Code: 5)


 

HSBC HOLDINGS PLC

GRANT OF SHARE OPTIONS


This announcement is made pursuant to Rules 17.06A, 17.06B and 17.06C of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

 

On 27 September 2023, HSBC Holdings plc (the "Company") granted share options ("Options") to employees to subscribe for a total of 23,382,459 ordinary shares of US$0.50 each of the Company ("Shares") under the HSBC Holdings Savings-Related Share Option Plan (UK) (the "Plan"). The following are the details of the grant:

 

Exercise Price at which the Options were granted

Option Period

Number of shares under Options

GBP 4.697

3 years

19,903,840

5 years

3,478,619

Total number of Options granted

23,382,459

Closing market price of the ordinary shares on the London Stock Exchange and on the date of grant

GBP 6.399

Vesting period of the Options

3 years, exercisable from 1 November 2026 to 30 April 2027

5 years, exercisable from 1 November 2028 to 27 April 2029

Exercise period of the Options

No later than six months from the vesting date of the Options

Performance Targets and Clawback

Grants of Options under the Plan do not include performance conditions or clawback provisions due to the requirements of the UK tax legislation relevant to the Plan

Arrangements for  the Company or a subsidiary to provide financial assistance to the grantees

None

Number of shares available for future grant under the plan mandate

The Plan is subject to three limits on the number of Shares committed to be issued under Options:

1.   10% of the ordinary share capital of the Company in issue immediately before that day, when added to the number of Shares which have been issued, or committed to be issued, to satisfy Options under the Plan, or options or awards under any other employee share plan operated by the Company granted in the previous 10 years. The number of Shares available to issue under this limit is 973,756,809.

2.   2,036,512,211 (being 10% of the Shares in issue (excluding treasury shares) on the date of shareholder approval of the numerical limit under the Plan) Shares issued under the Plan as well Options currently outstanding that were granted after last shareholder approval. The number of Shares available to issue under this limit is 1,903,920,907.

3.   4,675,000,000 Shares may be allocated for subscription under the Plan and put under option (including all outstanding Options). The number of Shares available to use under this limit is 4,056,706,403.

There were no Options granted to any director of the Company. For and on behalf of

HSBC Holdings plc

 

Aileen Taylor

Group Company Secretary and Chief Governance Officer

 

The Board of Directors of HSBC Holdings plc as at the date of this announcement comprises: Mark Tucker*, Noel Quinn, Geraldine Buckingham, Rachel Duan, Georges Elhedery, Carolyn Julie Fairbairn, James Anthony Forese, Ann Godbehere, Steven Guggenheimer, José Antonio Meade Kuribreña, Kalpana Morparia, Eileen K Murray, Brendan Nelson and David Nish.

 

*  Non-executive Group Chairman

  Independent non-executive Director

 

 

HSBC Holdings plc

Registered Office and Group Head Office:

8 Canada Square, London E14 5HQ, United Kingdom Web: www.hsbc.com

Incorporated in England with limited liability. Registered in England: number 617987




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings