YUNFENG FIN (00376) announced that as the 2016 Share Award Plan is expected to expire in December 2026, and given that the revised listing rules require amendments to the 2016 Share Award Plan rules before further new share awards can be granted, the Board proposes to adopt the 2025 Share Award Plan, which will be valid for ten years from the date of adoption, and to terminate the 2016 Share Award Plan, subject to shareholder approval at a special general meeting.

The 2025 Share Award Plan will constitute a share scheme under the revised listing rules. The plan aims to encourage or facilitate eligible participants (including employee participants, service providers and connected entity participants who the Board considers in its sole discretion have contributed or will contribute to the Group) to hold shares; encourage and retain such persons to cooperate with the Group; and provide additional incentives for such persons to achieve performance targets, with the objective of enhancing the Company's value and aligning the interests of eligible participants with shareholders through share ownership.

The Board also proposes to amend the terms of the 2022 Share Option Plan to ensure compliance with the revised listing rules, allow the use of the Company's treasury shares to settle share options, and reflect other housekeeping and corresponding amendments.