India, March 21 -- China Yuchai International Limited (CYD), a Singapore-based powertrain solutions manufacturer, has approved and implemented an equity incentive plan for its subsidiary, Guangxi SKY Cloud Technology Co., Ltd.
The plan, approved by Yuchai's shareholders, aims to grant equity interests in Sky Cloud to selected employees, directors, and senior officers.
Sky Cloud, a wholly owned subsidiary of Yuchai with a registered capital of RMB 5 million, will see its capital increase by RMB 1.25 million, representing a 20% stake in the expanded entity. This interest will be distributed in two phases: Phase One involves an aggregate grant of RMB 1,080,002 at a subscription price of RMB 1 per RMB 1 registered capital. Phase Two, set for ...