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Wynn Macau announces employee ownership program

October 6, 2023 Macau Casino & HotelEvents & Announcements

Wynn Macau announced the launch of an employee ownership program, giving 586 staff members the chance to purchase a total of 586,000 ordinary shares on October 5 for a minimum price of HK$0.001. Approximately 0.01 percent of the company’s outstanding share capital as of the announcement date is represented by this share award.

The awarded shares will be distributed to each participant in the plan in two equal installments: 50% on October 5, 2026, and the remaining 50% on October 5, 2027.

Following the distribution of these shares, the Employee Ownership Scheme will still have 521,569,834 shares under the scheme mandate limit and 10,476,863 shares under the service provider sublimit available for future awards.

In order to increase the value of the company, Wynn has stated that it will implement the Employee Ownership Scheme with the following goals: aligning the interests of eligible participants with those of the business and its shareholders; motivating and attracting these participants; and recognising and encouraging their contributions to the business’s long-term growth and profitability.

It is important to note that none of the chosen participants in this scheme currently hold positions as directors, top executives, significant shareholders, or are otherwise related to such responsibilities, the firm, or its affiliates.

Related Article About: Wynn Macau

Original story by: Asia Gaming Brief

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