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HONG KONG - Prudential plc (HKEX:2378) (LSE:PRU) granted options for 298,306 new ordinary shares to non-employees under its International Savings-Related Share Option Scheme for Non-Employees (ISSOSNE), according to a regulatory filing on Friday.
The options were granted on October 2 with an exercise price of HKD 82.08 per share, representing at least 80% of the market value. The closing price of Prudential shares on the grant date was HKD 108.60.
Recipients will be able to exercise their options during maturity periods of either December 1, 2028 to May 31, 2029, or December 1, 2030 to May 31, 2031, following vesting periods of three or five years from the grant date.
The ISSOSNE program, which was approved at Prudential’s annual general meeting on May 25, 2023, is designed to incentivize individuals who are not employees but maintain close connections with the company, such as insurance agents.
None of the option recipients are directors, chief executives, or substantial shareholders of Prudential, nor associates of such individuals, according to the company’s statement.
Following this grant, Prudential reports that the maximum number of shares available for future grants under its scheme mandate stands at 200,577,148, with a service provider sublimit of 37,262,562.
Prudential, which provides life and health insurance and asset management services across Asia and Africa, maintains dual primary listings on the Hong Kong and London stock exchanges, with secondary listings in Singapore and New York.
The information was disclosed in a regulatory announcement to the Stock Exchange of Hong Kong.
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