Qunar Announces New Employee Awards Plan
November 18 2015 - 5:15PM
Qunar Cayman Islands Limited (NASDAQ:QUNR) ("Qunar" or the
"Company"), China’s leading mobile and online travel platform,
today announced that, following Qunar’s announcement of an exchange
program for its employees on October 26, Ctrip.com International,
Ltd. (NASDAQ:CTRP) (“Ctrip”) has agreed to issue a total of
approximately 5 million ordinary shares to certain special purpose
vehicles holding these shares solely for the benefit of Qunar
employees. Future receipt by Qunar employees of Ctrip shares will
be upon satisfaction of legal and contractual conditions, including
the condition that any Qunar securities held by or granted to any
Qunar employee, such as vested share-based awards, converted
business unit incentive points, and other share incentives, must
have been surrendered or forfeited before the employee receives
Ctrip shares.
Ctrip and Qunar are currently exploring ways
through which they can effectively cooperate to enhance their
respective products and services and better serve the market.
Qunar also announced today that its Board of
Directors has approved the adoption of a new 2015 share incentive
plan of approximately 9 million additional Qunar ADSs on an as
exercised and as converted basis. The options, with approximately
half of which are related to conversion of business unit incentive
points into ADSs and subject to the original multi-year vesting
plan, will be granted and vested over a period of multiple years to
employees of Qunar under the new 2015 plan.
About Qunar
Qunar is China’s leading mobile and online
travel platform. With a commitment to building a travel ecosystem
serving the entire travel industry value chain, Qunar is evolving
the way people travel in a world increasingly enabled by
technology. Qunar addresses the needs of Chinese travelers and
travel service providers by efficiently matching industry supply
and demand through its proprietary technologies. By providing
technology infrastructure for travel service providers on mobile
and online platforms, Qunar integrates and offers the most
comprehensive selection of travel products and the most convenient
means to complete desired transactions for Chinese travelers.
Qunar means “where to go” in Mandarin
Chinese.
For more information, please visit
http://ir.qunar.com.
For investor inquiries, please contact:
Xiaolu Zhu
Investor Relations
Qunar Cayman Islands Limited
Tel: +86-10-5764-6223
Email: ir@qunar.com
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