Many Idea Cloud Holdings Limited (stock code: 06696) announced that its board resolved on 10 March 2026 to seek shareholder approval for a new Share Award Scheme designed to align management and employee incentives with the Group’s long-term growth.
Key features of the proposed scheme are as follows:
• Scheme size and duration: The mandate allows the issuance of up to 67.20 million new shares—equivalent to 10% of the Company’s issued share capital (excluding any treasury shares) on the announcement date—over a 10-year period starting from the adoption date. • Service provider sub-limit: Within the overall cap, up to 6.72 million shares (1% of issued capital) may be granted to service providers. • Integration with 2022 Share Option Scheme: The 67.20 million-share ceiling is a consolidated limit covering all share awards under the new plan and the 4.00 million options still available under the 2022 Share Option Scheme; no options have been granted under that plan to date. • Eligibility and oversight: Employee participants, related-entity participants and qualifying service providers are eligible, subject to selection by the board or its delegated committee. Grants to directors, chief executives or substantial shareholders exceeding regulatory thresholds will require prior approval from independent non-executive directors and, where applicable, shareholder approval. • Vesting mechanics: Awards generally carry a minimum vesting period of 12 months, with limited exceptions (e.g., make-whole awards for new hires, death or disability). The board retains discretion to set performance targets case by case and has embedded a claw-back mechanism covering misconduct, financial mis-statement and competitive employment. • Administration and settlement: The board may appoint an independent trustee; no trustee has been appointed yet. Awards may be settled by newly issued shares or shares acquired on- or off-market. Listing approval for any new shares will be sought from the Hong Kong Stock Exchange. • Next steps: An extraordinary general meeting (EGM) will be convened to seek shareholder approval. The circular containing full details and the EGM notice will be dispatched in due course.
The board states that, to its knowledge, no shareholder has a material interest requiring abstention from voting on the proposal. Investors are advised to exercise caution when dealing in the Company’s securities pending the EGM outcome.