SMART-CORE (02166) announced that its board of directors has resolved to adopt the 2026 Share Award Scheme. Eligible individuals will participate in the scheme starting April 16, 2026. According to the rules of the 2026 Scheme, the remaining shares from the 2016 Plan will be transferred to the 2026 Scheme. The independent trustee will acquire additional shares at the company's expense and hold them on behalf of selected participants until the shares vest according to the 2026 Scheme rules. Vested shares will be transferred to selected participants free of charge, although participants will bear all associated transaction costs. The total number of shares that may be awarded under the 2026 Scheme throughout its effective period is limited to 10% of the company's total issued share capital on the adoption date. The company originally adopted the 2016 Plan on September 19, 2016, as an employee incentive scheme, under which it was permitted to award up to 50 million existing shares to eligible persons. The 2016 Plan is set to expire on September 19, 2026, the tenth anniversary of its adoption. The board has resolved that upon the approval and effectiveness of the 2026 Scheme, the 2016 Plan will be terminated immediately. Consequently, no further shares will be awarded under the 2016 Plan. Prior to the termination of the 2016 Plan and up to the date of this announcement, 4 million awarded shares have not yet vested. These award shares will remain valid and outstanding, and will vest for the grantees upon achieving any performance targets set by the board. Furthermore, 31.42 million shares remained available for award under the 2016 Plan, which constitute the remaining shares to be transferred by the trustee to the 2026 Scheme.