Annual Report 2021

Report of the Directors 60 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED (4) Individual limit (a) Subject to (iii)(4)(b) below (and subject always to (iii)(5) below), the Board shall not grant any option (the “ Relevant Options ”) to any Eligible Person which, if exercised, would result in such Eligible Person becoming entitled to subscribe for such number of shares as, when aggregated with the total number of shares already issued or to be issued to him/her under all options granted to him/her in the 12-month period up to and including the date of grant of the Relevant Options, exceed 1% of the shares in issue at such date. (b) Notwithstanding (iii)(4)(a) above, the Board may grant options to any Eligible Person or Eligible Persons causing the limit under (iii)(4)(a) above in relation to such Eligible Person to be exceeded, but only with the approval of the shareholders of the Company in general meeting (with such Eligible Person and his associates abstaining from voting), and subject always to (iii)(5) below. (5) 30% maximum limit The number of shares which may be issued upon exercise of all outstanding options granted and not yet exercised under the Share Option Scheme to Eligible Persons must not exceed 30% of the shares in issue from time to time. (iv) Option period Subject to certain provisions, an option under the Share Option Scheme which is vested and has not lapsed may be exercised at any time up to the expiry of 10 years (or less, as the case may be) from the date of grant of the option. The exercise of the options may be subject to any conditions imposed by the Board at the time of offer. The rules of the Share Option Scheme do not contain specific provisions for the minimum period which an option must be held before exercise or performance targets applicable to the options. (v) Payment for option Option-holders are not required to pay for grant of an option. (vi) Subscription price The subscription price for the shares in respect of which options are granted shall not be less than the higher of (i) the closing price of the shares as stated in the HKSE’s daily quotations sheet on the date of grant; (ii) the average closing price of the shares as stated in the HKSE’s daily quotations sheets for the 5 trading days immediately preceding the date of grant; and (iii) the nominal value of the shares. (vii) The remaining life of the Share Option Scheme The life of the Share Option Scheme is 10 years commenced on the Adoption Date and ended on 8 December 2021. As the Share Option Scheme had ended on 8 December 2021, no further share options will be granted under the Share Option Scheme. Also, no share options were outstanding, granted, exercised, lapsed or cancelled during the financial period from 1 January until the end of the Share Option Scheme on 8 December 2021. SUBSTANTIAL SHAREHOLDERS As at 31 December 2021, the following persons, other than a Director or chief executive of the Company, had interest or short position in the shares and underlying shares of the Company as recorded in the register of the Company required to be kept under section 336 of the SFO or as notified to the Company and the HKSE pursuant to Divisions 2 and 3 of Part XV of the SFO: