NagaCorp further delays share award scheme

Cambodian casino operator NagaCorp has decided to further delay the grinding of up to 19 million award shares to directors of the company, due to the prolonged global market disruption caused by the Covid-19 pandemic. 

The award scheme was first adopted in January, with the aim of attracting skilled and experienced personnel, and incentivizing them to stay with the group by allowing them to obtain equity interests in the company. 

This was delayed to December due to an ongoing business suspension at NagaWorld

However, the prolonged disruption caused by the Covid-19 pandemic has prompted the board to further defer the grants to the financial year ending 2022 or 2023, the timing to be determined by the performance of the group at the relevant time, it said.