China Kingstone Mining Holdings Limited (Stock Code: 1380) released an announcement proposing the adoption of a Share Award Scheme and a conditional grant of 23,300,000 new Award Shares to its Executive Director and Chief Executive Officer, Mr. Chin, representing approximately 5.98% of the issuer’s total share capital as of the announcement date on 22 October 2025. Both proposals are subject to approval at a forthcoming Special General Meeting (SGM).

According to the terms, the new Share Award Scheme seeks to grant incentive shares to eligible employees, directors, related entities, and certain service providers. The overall scheme mandate covers up to 10% of the current issued shares with a sub-limit of 1% for service providers. The vesting of these shares may hinge on designated performance targets or service conditions. Upon final approval, the scheme would remain valid for 10 years from its adoption date.

The Board also disclosed key details around Mr. Chin’s conditional grant, which is linked to a performance milestone involving an acquisition target in Chile’s gold mining sector or the passage of 12 months from the grant date, whichever occurs earlier. The vesting remains subject to the fulfillment of performance assessments and a clawback mechanism that cancels unvested shares under specified conditions.

A circular containing additional details of the Share Award Scheme and the conditional grant, along with the notice of the SGM, will be dispatched to shareholders in accordance with regulatory requirements. Shareholders and investors are advised to review the official circular for comprehensive information and exercise caution in dealing with the company’s securities.