This is a discussion on Genting chairman's windfall within the Local & Foreign Issues forum, part of the Community Lounge category; GENTING Singapore executive chairman Lim Kok Thay is $6.1 million richer, thanks to the surging share price of the firm ...
GENTING Singapore executive chairman Lim Kok Thay is $6.1 million richer, thanks to the surging share price of the firm that owns Resorts World Sentosa, Singapore's first integrated resort.
His latest windfall came in the form of 2.97 million stock options that he exercised last Thursday.
Taking into account the option exercise price of about 20 cents a share and Wednesday's all-time record closing price of Genting Singapore shares at $2.26 apiece, Mr Lim has, on paper, added $6.1 million to his wealth.
Last year's annual report showed that he was paid between $1.5 million and $2 million, a more conservative sum than for a good number of top executives.
With the stock option conversion, he will now have 3.96 million Genting Singapore shares in hand. This means his shareholding in the firm has increased to 0.033 per cent from 0.008 per cent.
Theoretically, if the long-time director of the entertainment and gaming group cashes all his stock options, he could take home a handsome $8.95 million.
Genting chairman's windfall