Galaxy Entertainment Group (GEG) will allow certain grantees to subscribe to approximately 0.09 percent of its share capital to fulfill the requirements of the Share Award Scheme 2021.
As part of the Share Award Scheme, a Subscription Agreement was established among GEG, the Trustee, and BVI HoldCo, allowing the trustees to subscribe to 3,894,565 Subscription Shares at the Subscription Price of HK$0.01 each.
When the grant was awarded on August 30th, the closing price of GEG’s shares was HK$51.7 ($6.6).
According to Wednesday’s filing, the company states that the purpose of the award scheme is to acknowledge and reward the contributions made by these grantees to the group’s development.
The Hong Kong Stock Exchange announcement, signed by Galaxy’s secretary, Jenifer Sin Li Mei Wah, indicates that the trustees will not exercise the voting rights in respect of any Shares held under the Share Award Scheme 2021.