The part of the central enterprises are in the pipeline management incentive stock repurchase program, previously there is no precedent. Central enterprises listed above who said that this program is an attempt to help all levels of management pay more attention to the company's market value, and efforts to enhance the company's profitability and management quality.
close to those of SASAC, said at present there is no indication that the SASAC intends to accelerate the implementation of equity incentive system, it is unlikely in the short term a large area of central enterprises to carry out equity incentives.
as a central enterprise equity incentive system, a pilot to explore some central enterprises listed holding company is preparing to buy back shares from the secondary market, the management incentive program.
previously approved in the flames of communication and exchange of shares, stock options were used to stock appreciation rights and incentive management, the former plans to be granted 236 million stock options, exercise price of 17.76 yuan , incentive stock options granted to a total of 149 objects; the latter were to be granted 6,183,000 stock appreciation rights, exercise price of 7.43 Hong Kong dollars.
by SASAC and the Ministry of Finance in September 2006 issued the regulations allow the other way. In accordance with the relevant provisions of the SFC, the source of the underlying stock, including shares issued to the incentive target, repurchase shares of the Company and the laws and administrative regulations to allow the other way.
holding one of the central enterprises to sources of listed companies, the company has reported its State-management incentives of stock repurchase program, is currently preparing the formal approval documents.
SASAC also decided in November last year, registered in the Zhongguancun area of the National Innovation Model 13 central enterprises owned high-tech enterprises, institutions restructuring of enterprises and other technology pilot innovative enterprises the right to dividends Incentive Pilot But now these companies have not yet approved the incentive program.
state holding listed companies on the implementation of equity incentive is a concern of system innovation. Despite the SASAC, the Ministry of Finance in 2006 and 2008 have jointly issued guidance to state-owned holding three listed companies in the implementation of equity incentive system specifications, but the actual operation in recent years, SASAC has been more cautious, currently only listed company FiberHome (600498.SH) initial stock option incentive plan and the delivery of shares (1800.HK) stock appreciation rights plan approved.
It is understood that equity incentive SASAC of central enterprises is due to more cautious, some listed companies in the external market environment and internal operation mechanism is not sound, corporate governance structure needs to be improved. Li Rongrong, SASAC has the original on this site that if the corporate governance structure is not perfect, the central enterprises to become the management of their equity incentives to motivate yourself, it may appear difficult to control a variety of
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