News

On behalf of the Board of Directors of QL, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that the Company proposes to undertake the establishment of a share grant scheme ("SGS") of up to 2.0% of the total number of issued shares of QL ("QL Share(s)" or "Share(s)") (excluding treasury shares, if any) at any point in time during the duration of the Proposed SGS for the eligible Directors, senior management and employees of the Company and its subsidiaries incorporated in Malaysia (but excluding the subsidiaries as stated in Note (1) of Section 2.3 of the announcement) (collectively referred to as "QL Group" or the "Group") ("Group Employee(s)"), who fulfil the criteria of eligibility ("Eligible Person(s)") stipulated in the by-laws governing the Proposed SGS.

The Proposed SGS serves as a long-term incentive plan to motivate, reward and retain the Group Employees who are instrumental to the continued success of QL Group.

The Proposed SGS does not involve the issuance of new QL Shares to the Eligible Persons and will instead be implemented through a share buy-back scheme and administered by a trustee to be appointed by QL Group under a trust to be established for the purposes of the SGS.

Further details of the Proposed SGS are set out in the attachment enclosed.

This announcement is dated 24 June 2024.

Please refer attachment below.