Lui family members among gainers in Galaxy share grant

Jun 18, 2021 Newsdesk Latest News, Macau, Top of the deck  

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The chairman and vice-chairman of Macau casino operator Galaxy Entertainment Group Ltd – along with three other Lui family members – are among beneficiaries of share options and share grants announced by the company.

The five collectively get 3,644,000 of the 9,274,000 share options granted; and 421,600 of the 1,773,300 share awards granted.

In a Friday filing to the Hong Kong Stock Exchange, Galaxy Entertainment said the options were at an exercise price of HKD62.19 (US$8.00) per share.

The closing price of the shares on Thursday (June 17), the date of the grant, was HKD62.00.

Recipients of the options include three executive directors of Galaxy Entertainment: the company chairman Lui Che Woo (pictured), with 1,477,000; his son and company vice chairman, Francis Lui Yiu Tung, with 2,089,000; and Paddy Tang Lui Wai Yu, with 78,000.

Two people classified as associates of directors – Eileen Lui Wai Ling and Andrew Nicholas Lui – are to receive respectively 302,000 and 4,000 share options.

Ms Tang and Ms Eileen Lui are both daughters of Mr Lui Che Woo. Mr Andrew Nicholas Lui is a son of Mr Francis Lui.

The validity of the options runs for six years, from mid-June this year to mid-June in 2027, and they will vest consecutively in three tranches.

In addition, the firm announced share awards that for the same five individuals, amount to a total of 421,600 shares under the group’s share award scheme adopted by Galaxy Entertainment in May this year.

The share awards vest in three tranches between June 2022 and June 2024.

Chairman Mr Lui Che Woo got 170,900; and vice-chairman Mr Francis Lui got 241,700; while the other executive director who is beneficiary, Ms Tang, got 9,000.

The two people classified as associates of directors, Ms Eileen Lui and Mr Andrew Lui, got respectively 34,900 and 400 share awards.

The remaining balance of the share awards go to unspecified beneficiaries.

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