Euro Tech Holdings Company Limited Reports Stock Option Granted

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Dec 12, 2014, 06:00 ET

HONG KONG, Dec. 12, 2014 /PRNewswire/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) today reported that on December 11, 2014 and effective November 22, 2014, the Company entered into a stock option contract with Huang Rui Xiang, a Business Development Manager of two of its majority owned subsidiaries, Yixing Pact Environmental Technology Company Limited and Pact Asia Pacific Limited. The Company believes that the stock option contract was a material part of the Business Development Manager's compensation arrangements. The stock option contract grants the optionee the right to purchase 20,692 Ordinary Shares, 1% of the Company's issued and shares, at an exercise price of $3.484 per share. The exercise price was determined by the average closing price of the Company's as reported by NASDAQ for a ten-day period prior to the end of the Business Development Manager's probationary period on November 22, 2014, the effective date of the stock option contract. The stock options granted are exercisable three years after the effective date and terminate five years after the effective date. In the event of the optionee's termination, except for his resignation, the options may be exercisable within three months of the termination. In the event of optionee's death, retirement or disability, he or his legal representative shall have up to one year to exercise the option. The stock option contract was approved by all of the members of the Company's Board of Directors, including all of its independent directors.

Certain statements in this news release regarding the Company's expectations, estimates, present view of circumstances or events, and statements containing words such as estimates, anticipates, intends, or expects, or words of similar import, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include, without limitation, having the Company's offices and operations situated in Hong Kong and China, doing business in China, competing with Chinese manufactured products, competing with the Company's own suppliers, dependence on vendors, and lack of long term written agreements with suppliers and customers, development of new products, entering new markets, possible downturns in business conditions, increased competition, loss of significant customers, availability of qualified personnel, negotiating definitive agreements, new marketing efforts and the timely development of resources. See the "Risk Factor" discussions in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F for its fiscal year ended December 31, 2013.

Website: http://www.euro-tech.com
Pact's Website: http://www.pactchina.com

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SOURCE Euro Tech Holdings Company Limited