The requirements under Chapter 17 of the Listing Rules applicable to share option schemes will also govern share award schemes under the amendments that will become effective 1 January 2023.

Both share option schemes (which grant options to subscribe for new shares) and share award schemes (which grant shares or equivalent units) serve to reward and incentivise employees to continue to contribute to the growth of the listed issuer and to ensure that their interests are aligned with those of the listed issuer and shareholders. The existing Chapter 17 of The Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the Listing Rules) currently only governs share option schemes.