Allan Zeman, the chairman of casino operator Wynn Macau Ltd, is the largest individual beneficiary of a new grant of share options divided among five non-executive directors of the company.
Hong Kong-based leisure and entertainment entrepreneur Mr Zeman (pictured) gets nearly 3.78 million options – or just under 42 percent – of the nearly 9.07-million options being offered.
The entire exercise is worth just over HKD62.7 million (US$8.0 million), based on the subscription price of HKD6.92 per share, representing the average closing price per share for the five business days preceding Friday’s grant.
The other recipients – each receiving just over 1.32 million options – are fellow Wynn Macau Ltd non-executive directors Bruce Rockowitz, Jeffrey Lam Kin Fung, Nicholas Sallnow-Smith, and Leah Dawn Xiaowei Ye.
The information was given in a Friday filing to the Hong Kong Stock Exchange.
The exercise period is December 3, 2022, through to December 2, 2031, both dates inclusive. The options may be exercised – in gradually increasing amounts – starting from the first anniversary of the date of the grant.
Wynn Macau Ltd – operator of the Wynn Macau and Wynn Palace casino resorts in Macau – saw its shares at a calendar-year high of HKD16.44 on March 3, before they slumped to a year-to-date low of HKD5.90 on September 20.
That followed a sharp decline in September, coinciding with the announcement of a Macau government consultation paper on the future of the city’s casino industry, which will see the expiry in June of the gaming rights of the six existing operators.
After recovering to HKD8.34 on November 25, Wynn Macau Ltd shares dipped again, coinciding with news of the detention in Macau of Alvin Chau Cheok Wa, boss of the Suncity Group brand of casino VIP gambling junkets.
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