TIANGE (HKEX: 01980) has issued an announcement regarding its public shareholding.

As of the date of the announcement, the company's public float is approximately 20.85%. This figure remains below the minimum public float requirement stipulated in Rule 13.32B(1) of the Listing Rules and also fails to meet the alternative threshold requirements set out in Rule 13.32B(2).

Under its incentive plan, the company intends to grant awards to certain eligible employee participants from various business segments and operations of the group. The purpose of these awards is to motivate these participants and secure their long-term commitment to the group's continued growth and development. The awards will be granted pursuant to the company's 2024 Share Scheme, which was adopted on June 28, 2024.

According to the current incentive plan, each eligible participant will receive an award not exceeding 1% of the issued shares. The total share awards to be granted by the company will constitute approximately 5.20% of the company's issued share capital as of the announcement date.

The company plans to utilize a portion of the 61,881,200 issued shares currently held by Xinshow Limited, the nominee for the trustee of the 2024 Share Scheme, to fulfill all the share awards.

Considering the time required for the company to complete relevant internal procedures, it is anticipated that the share awards will be granted on or before June 30, 2026. Consequently, the company's public float is also expected to be restored on or before that same date.