• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Ent Gaming Asia to launch stock option exchange plan

Jun 14, 2016 Newsdesk Industry Talk, Latest News  


Ent Gaming Asia to launch stock option exchange plan

Nasdaq-listed Entertainment Gaming Asia Inc has approved a voluntary stock option exchange programme for its employees, directors and other eligible parties.

“The company believes the option exchange programme will provide valuable incentive to retain certain individuals that are important to its future success,” Entertainment Gaming Asia stated in a press release issued on Monday.

“Further, it serves to motivate the participants to contribute to the attainment of the company’s business and financial objectives and, ultimately, the creation of value for all of the shareholders,” the document said.

“The stock option exchange programme would be effected pursuant to a proposed new 2016 stock incentive plan, which amends the company’s existing 2008 stock incentive plan to bring it more in alignment with the Hong Kong Stock Exchange listing rules,” the company additionally noted.

Entertainment Gaming Asia became in late 2014 a majority-owned subsidiary of Hong Kong-listed Melco International Development Ltd.

Entertainment Gaming Asia’s business activities include leasing electronic gaming machines to the gaming industry in Asia. Until recently, it also manufactured and distributed gaming chips, gaming plaques and related products. The firm sold that business in May to Gaming Partners International Corp.

In its Monday release, Entertainment Gaming Asia stated it expected to effect the stock option exchange programme in the third quarter of 2016.

Under the terms of the programme, eligible parties would have the opportunity to cancel their existing ‘underwater’ outstanding stock options – i.e., options with exercise prices that are higher than the current market trading price of the company’s common stock – in exchange for a replacement option grant for an equal number of shares. The latter will have an exercise price of US$1.94 per unit.

The Entertainment Gaming Asia share price stood at US$2.06 at the end of Monday’s trading session in New York.

The firm expects that options amounting to 484,781 shares of common stock of Entertainment Gaming Asia, or approximately 3 percent of total shares outstanding, will be part of the exchange programme, it said.

The number of the company’s shares subject to outstanding options would not change as a result of the new option exchange scheme.


  • tweet
Related articles
  • Revamped Nüwa hotel reopens Feb 8, says City of Dreams
    Revamped Nüwa hotel reopens Feb 8,...

    Jan 12, 2021  

  • MGM China no restructure plans amid sell off plea to parent
    MGM China no restructure plans amid...

    Jan 08, 2021  

More news
  • Digital yuan eventually for Macau mass bets mulls Bernstein
    Digital yuan eventually for Macau mass...

    Jan 22, 2021  

  • Macau Covid-19 case no bar to mainland travel ties
    Macau Covid-19 case no bar to mainland...

    Jan 22, 2021  


Latest News

Digital yuan eventually for Macau mass bets mulls Bernstein

Digital yuan eventually for Macau mass bets mulls Bernstein

Jan 22, 2021  

Were China’s central government-backed digital yuan (CNY) to be adopted in Macau for casino chip transactions, it could in the long run benefit mass and premium-mass play, as cross-border money...
Read More
Macau Covid-19 case no bar to mainland travel ties

Macau Covid-19 case no bar to mainland travel ties

Jan 22, 2021  

Mohegan seeks govt nod to delay Inspire opening

Mohegan seeks govt nod to delay Inspire opening

Jan 22, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The entire company is eagerly anticipating the launch of our newest themed destination – The Londoner Macao"

Wilfred Wong Ying Wai

President of Macau-based casino operator Sands China



Most Popular

  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Londoner Macao first phase launch Feb 8 says Sands ChinaLondoner Macao first phase launch Feb 8 says Sands China January 21, 2021
  • Wynn and Melco also flag bonus for Macau staffWynn and Melco also flag bonus for Macau staff January 19, 2021
  • Investors see 2H Macau gain, rebound 2022: BernsteinInvestors see 2H Macau gain, rebound 2022: Bernstein January 19, 2021
  • Melco likely to take on more debt for expansion: Moody’sMelco likely to take on more debt for expansion: Moody’s January 20, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us