Document:

Exhibit 10.7

 

Hong Kong Exchanges and Clearing Limited and
The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its
accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the
whole or any part of the contents of this announcement.

 

 

Earthasia International Holdings Limited

泛 亞 環 境 國
 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited
liability)

(Stock Code: 6128)

 

(1) GRANT OF SHARE OPTIONS PURSUANT TO

THE SHARE OPTION SCHEME OF THE COMPANY

 

(2) GRANT OF AWARDED SHARES PURSUANT TO

THE SHARE AWARD SCHEMES OF THE COMPANY

AND A SUBSIDIARY

 

Reference is made to the share option scheme
(the “Share Option Scheme”) adopted by Earthasia International Holdings Limited (the “Company”)
on 3 June 2014. Reference is also made to the announcements of the Company dated 21 August 2014, 5 January 2015 and 7
September 2015 respectively in relation to the adoption of share award scheme of the Company (the “Company Share Award
Scheme”) and the announcement of the Company dated 19 January 2021 in relation to the adoption of share award scheme (the
 “EIL Share Award Scheme”) of Earthasia (International) Limited (an indirect wholly-owned subsidiary of the Company)
(“EIL”). Unless otherwise defined, capitalised terms used in this announcement shall have the same meaning ascribed
to them in the aforesaid announcements.

 

GRANT OF SHARE OPTIONS

 

This announcement is made by the Company pursuant
to rule 17.06A of the Rules Governing the Listing of Securities (the “Listing Rules”) on The Stock Exchange
of Hong Kong Limited (the “Stock Exchange”).

 

    - 1 -

     

    

 

The board of directors (the “Board”)
of the Company hereby announces that, on 28 January 2021 (the “Date of Grant”), the Company has granted a total
of 40,000,000 share options (the “Share Options”) to 14 eligible participants of the Company (the “Grantees”)
pursuant to the Share Option Scheme to subscribe for an aggregate of 40,000,000 new ordinary shares of HK$0.01 each (the “Share(s)”)
of the Company, subject to the acceptance of the Share Options by the Grantees. The total of 40,000,000 Shares to be subscribed under
the Share Options represent approximately 8.29% of the existing issued share capital of the Company as at the Date of Grant and approximately
7.66% of the enlarged issued share capital of the Company, assuming the Share Options are fully exercised.

 

Details of the Share Options are set out as follows:

 

	Date of Grant	28 January 2021
	 	 
	Number of Share Options granted
	40,000,000 Share Options (each Share
    Option shall entitle the Grantee to subscribe for one Share)
	 	 
	Exercise
    price of the Share Options granted	HK$0.65 per Share, representing a premium over (i) the
    closing price of HK$0.59 per Share as stated in the Stock Exchange’s daily quotation sheet on the Date of Grant; (ii) the
    average closing price of HK$0.61 per Share as stated in the Stock Exchange’s daily quotation sheet for the five business days
    immediately preceding the Date of Grant; and (iii) the nominal value of HK$0.01 per Share
	 	 
	Consideration
                                            for the grant of the

                                                                                Share
                                            Options
	HK$1 to be paid by the Grantee upon acceptance
    of the Share Options granted
	 	 
	Validity period of the Share Options	Five (5) years from the Date of Grant being 28 January 2021 to 27
    January 2026
	 	 
	Vesting period of the Share Options	One (1) year from the Date of Grant being 28 January 2021
    to 27 January 2022, which shall be subject to other vesting terms and conditions

 

    - 2 -

     

    

 

Among the Share Options, 24,000,000 Share Options
were granted to the following directors, chief executive and substantial shareholders of the Company as follows:

 

	Name of Grantees	 	Position(s) held with
    the Company	 	Number
                                            of Share

                                                                                Options granted
	 
	Lau Hing Tat Patrick	 	Executive director, chairman and substantial
    shareholder	 	 	4,000,000	 
	Chan Yick Yan Andross	 	Executive director, chief executive officer and substantial
    shareholder	 	 	4,000,000	 
	Tian Ming	 	Executive director	 	 	4,000,000	 
	Qiu Bin	 	Executive director	 	 	4,000,000	 
	Yang Liu	 	Executive director	 	 	4,000,000	 
	Tu Wenzhe	 	Non-executive director	 	 	4,000,000	 
	 	 	Total	 	 	24,000,000	 

 

The independent non-executive directors of the
Company have approved the grant of the Share Options to the above directors, chief executive, substantial shareholders of the Company
in accordance with rule 17.04(1) of the Listing Rules.

 

None of the grant of Share Options to a substantial
shareholder of the Company would result in the Shares issued and to be issued upon exercise of all the Share Options granted and to be
granted (including options exercised, cancelled and outstanding share options) under the Share Option Scheme to such person in the 12-month
period up to and including the Date of Grant (i) representing in aggregate over 0.1% of the Shares in issue; AND (ii) having
an aggregate value, based on the closing price of the Shares on the Date of Grant, in excess of HK$5 million.

 

None of the Grantees will, as a result of the
grant of Share Options, be entitled to be issued with such number of Shares representing over 1% of the Shares in issue upon exercise
of all Share Options granted to him/her in the 12-month period up to and including the Date of Grant.

 

    - 3 -

     

    

 

GRANT OF AWARDED SHARES BY THE COMPANY

 

On 28 January 2021, the Board resolved to
grant an aggregate 9,931,275 Shares (the “Company Awarded Shares”) to 10 selected participants (the “Company
Selected Participants”) pursuant to the Company Share Award Scheme, which together with all Shares awarded pursuant to the
Company Share Award Scheme since the adoption date of the Company Share Award Scheme (the “Adoption Date”) represented
not more than 10% of the issued shares of the Company as at the Adoption Date. None of the Company Selected Participants is a connected
person (as defined under the Listing Rules) of the Company and none of the Company Selected Participants was granted such number of Company
Awarded Shares which exceeded 1% of the issued shares of the Company as at the date of this announcement. The vesting date of the Company
Awarded Shares is 28 January 2021, subject to fulfillment of other vesting conditions (where applicable) and acceptance by the Company
Selected Participants.

 

Among the Company Awarded Shares, 2,000,000 Company
Awarded Shares were granted to following directors as follows:

 

	Name of selected participants	 	Position(s) held with
    the Company	 	Number
                                            of Company

                                                                                Awarded Shares
                                            granted
	 
	Tian Ming	 	Executive director of the Company	 	 	1,000,000	 
	Tu Wenzhe	 	Non-executive director of the Company	 	 	1,000,000	 
	 	 	Total	 	 	2,000,000	 

 

The closing price of the Shares of the Company
on the date of grant of the Company Awarded Shares was HK$0.59. The Company Awarded Shares have been purchased and are currently held
by the Trustee in accordance with the scheme rules of the Company Share Award Scheme and subject to the terms of the Trust Deed.

 

GRANT OF AWARDED SHARES BY EIL

 

On 28 January 2021, the board of directors
of EIL resolved to grant an aggregate 200 shares (the “EIL Awarded Shares”) to 6 selected participants (the “EIL
Selected Participants”) pursuant to the EIL Share Award Scheme, which do not exceed the scheme limit under the EIL Share Award
Scheme and represent 4% of the issued share capital of EIL as at the adoption date of EIL Share Award Scheme. The vesting date of EIL
Awarded Shares is 28 January 2021, subject to fulfillment of other vesting conditions (where applicable) and acceptance by the EIL
Selected Participants.

 

    - 4 -

     

    

 

Among the EIL Awarded Shares, 100 EIL Awarded Shares were granted
to the following directors, chief executive and substantial shareholders of the Company as follows:

 

	Name of EIL Selected Participants	 	Position(s) held with the Company and
                                                                                                                   EIL
	 	Number
    of EIL
Awarded Shares granted	 
	Mr. Lau Hing Tat Patrick	 	Executive director,chairman and substantial
    shareholder of the Company Director of EIL	 	 	50	 
	Mr. Chan Yick Yan
    Andross	 	Executive
                                            director,chief executive officer and substantial

                                                                                shareholder
                                            of the Company Director of EIL
	 	 	50	 
	 	 	Total	 	 	100	 

 

As the grant of EIL Awarded Shares to aforesaid
directors forms part of the remuneration packages of the directors under their respective service contracts with the Company, therefore
such grant is exempt from the reporting, announcement and independent shareholders’ approval requirements under Rules 14A.73(6) and
14A.95 of the Listing Rules.

 

Save as disclosed above, none of the EIL Selected
Participants is a connected person (as defined under the Listing Rules) of the Company and none of the EIL Selected Participants was
granted such number of EIL Awarded Shares which exceeded 1% of the issued share capital of EIL as at the date of this announcement.

 

	 	By Order of the Board
	 	Earthasia International Holdings Limited
	 	Lau Hing Tat Patrick
	 	Chairman

 

Hong Kong, 28 January 2021

 

As at the date of this announcement, the executive
Directors are Mr. Lau Hing Tat Patrick, Mr. Chan Yick Yan Andross, Mr. Tian Ming, Mr. Yang Liu and Mr. Qiu Bin,
the non-executive Director are Mr. Ma Lida and Mr. Tu Wenzhe; and the independent non-executive Directors are Ms. Tam
Ip Fong Sin, Mr. Wang Yuncai, Mr. Liu Kwong Sang, Mr. Tang Zhaodong and Mr. Chan Anthony Kaikwong.

 

     - 5 -Exhibit 10.8

 

Hong Kong Exchanges and Clearing Limited and
The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its
accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the
whole or any part of the contents of this announcement.

 

 

Earthasia International Holdings Limited

泛 亞 環 境 國
 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited
liability)

(Stock Code: 6128)

 

CLARIFICATION ANNOUNCEMENT

 

GRANT OF AWARDED SHARES PURSUANT TO

THE SHARE AWARD SCHEME OF THE COMPANY

 

Reference is made to the announcement of the
Company dated 28 January 2021 (the “Announcement”) in relation to, inter alia, the grant of the Company Awarded
Shares pursuant to the Company Share Award Scheme. Unless otherwise defined, capitalised terms used in herein shall have the same meaning
ascribed to them in the Announcement.

 

As stated in the Announcement under the heading
of “Grant of Awarded Shares by the Company”, the Board on 28 January 2021 resolved to grant an aggregate 9,931,275 Company
Awarded Shares to 10 Company Selected Participants, two of whom are directors of the Company and details of the grant were stated in
the relevant table. However, a statement “None of the Company Selected Participants is a connected person (as defined under the
Listing Rules) of the Company” (the “Statement”) was inadvertently included in the Announcement.

 

The Board wishes to clarify that the Statement
is wrong and should be removed from the Announcement. Save as the clarification above, all information in the Announcement remains unchanged.

 

	 	By Order of the Board
	 	Earthasia International Holdings Limited
	 	Lau Hing Tat Patrick
	 	Chairman

 

Hong Kong, 29 January 2021

 

As at the date of this announcement, the executive
Directors are Mr. Lau Hing Tat Patrick, Mr. Chan Yick Yan Andross, Mr. Tian Ming, Mr. Yang Liu and Mr. Qiu Bin,
the non-executive Director are Mr. Ma Lida and Mr. Tu Wenzhe; and the independent non-executive Directors are Ms. Tam
Ip Fong Sin, Mr. Wang Yuncai, Mr. Liu Kwong Sang, Mr. Tang Zhaodong and Mr. Chan Anthony Kaikwong.

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