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COSCO SHIPPING Ports Announces Grant of Share Options and Share Purchase by Management on Open Market

Monday, 25 June 2018 | 12:00

COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports” or “CSP” or the “Company”, SEHK: 1199), the world’s leading container ports operator, today (21 June 2018) announced that on 20 and 21 June 2018, directors and management of the Company, and management personnel of terminal companies held by the Company (“Directors and management”) purchased a total of 1,372,000 shares of the Company at an average price of HK$7.11 per Share on open market with their personal fund voluntarily, total consideration amounted to approximately HK$9.8 million, the purchased shares representing approximately 0.04% of the total number of issued Shares, and will be lock up for a year from the date of purchase.

With the Share Option Scheme approved by the Shareholders at a Special General Meeting held on 8 June 2018, the Company has granted an aggregate of 53,483,200 share options to 238 eligible employees to subscribe for a total of 53,483,200 shares under the Share Option Scheme on 19 June 2018. Exercise price of the Share Options granted is HK7.27 per share. COSCO SHIPPING Ports is dedicated to becoming a leading port player in the world, with a global terminal network established, the Company will continue to enhance its competitiveness and achieve sustainable growth amid fast pace of development. Mr. Zhang Wei, Vice Chairman and Managing Director of COSCO SHIPPING Ports said, “The Share Purchase reflects management team’s strong confidence in the Company’s prospect, and with the share option formally granted, we have aligned our interests with shareholders.

COSCO SHIPPING Ports will continue to focus on the development of terminals business, further strengthen its capacity and enhance its leading market position as a global terminals player; and we will diversify our business into terminal-related supply chain services with an aim to further enhance profitability and maximize returns to our shareholders.”
Source: COSCO SHIPPING Ports

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