The Board of Joy Spreader (06988.HK), a Hong Kong publicly traded company, made voluntary announcement regarding its plan of adoption of Share Award Scheme through a stock repurchase program on June 21st, 2021.
The announcement says that the Scheme serves the purposes to recognize the crucial and remarkable dedications and contributions of certain directors, employees, consultants and advisers of the Company, as well as to incentivize them to retain longer term tenure with the Company, while to motivate them to endeavor for the future development and expansion strategy.
Analysts credit that the Company has delivered an impressive growth dynamics and positive momentum in the recent years, however, believe the current stock price fails to reflect the intrinsic value of the Company, while signifying the optimal time window to conduct a stock repurchase program for award shares scheme. The announced Scheme demonstrates the Board’s genuinely confidence and resolutely determination of the Company’s prospect, along with establishment a stable and long-term platform of mutual interests between the Company and selected participants, while further stimulates and enhances the efficiency and effectiveness of management team and all employees, in order to empower the growth engine of the Company to fulfill the long-term missions and visions, and continuously improve the intrinsic value of the Company.