6 Dec 2006
POON YEE KAN ANDREA ELEANOR v. NEW PARADIGM E-TECHNOLOGY LTD
- Citation
- POON YEE KAN ANDREA ELEANOR v. NEW PARADIGM E-TECHNOLOGY LTD
- Court
- Court of Appeal
- Case number
- CACV325/2004
The court held that a binding option was granted to Ms Poon on about 1 November 1999 to acquire up to 8% of New Paradigm at par (HK$1.00) exercisable during her employment and before any takeover/listing/third party investment; New Paradigm ratified the pre-incorporation grant; Ms Poon validly exercised the option by notice and payment on 9 May 2002; specific performance/validation of the 14 May 2002 allotment and delivery of a share certificate were appropriate; the appeal was dismissed.