The gaming operator has announced that five of its directors have been granted a purchase option on shares.
Macau.- Gaming operator Wynn Macau has announced it has granted a purchase option to five of its directors to subscribe for an aggregate of 4,780,000 ordinary shares at HK$0.001 each.
The decision comes in a difficult year for the industry, with Wynn Macau reporting US$280.6m (MOP2.2bn) in net losses during the third quarter, with operating revenues down 89.2 per cent year-on-year to US$474.3m.
The company revealed in a filing to the Hong Kong Stock Exchange that director Allan Zeman received an option to subscribe to 1,992,000 shares, while Bruce Rockowitz, Jeffrey Kin-fung Lam, Nicholas Sallnow-Smith and Leah Dawn Xiaowei Ye received options on 697,000 shares each.
The directors will also have the option to purchase 20 per cent of the shares included per year between December 3, 2021 to December 3, 2030 at a price per share of HK$13.84.
Wynn adopted a new share option scheme on May 30, 2019 for a period of 10 years covering a maximum number of 519,695,860 shares.