NagaCorp defers 2021 share awards
The company has deferred 2021 share awards to the end of the current financial year.
Cambodia.- NagaCorp has announced the further deferral of share awards from 2021 to the end of the current financial year. The awards amount to over 10.2 million shares for directors and 9 million for non-connected participants.
The company said: “Tourism continues to recover at a gradual pace given the phased restoration of international flights and the external macroeconomic environment.
“In view of the group is still going through the post-Covid-19 business recovery, the board is of the view that it would be prudent to further defer the Initial Grants to the financial year ending 2024, with the exact timing of such grants to be determined by the board after taking into consideration the performance of the group at the relevant time.”
The filing noted that the nearly 1.17 million shares designated for NagaCorp’s founder, Chen Lip Keong, who died on December 8, 2023 may be transferred based on his will or on legal distribution.
NagaCorp posted gross gaming revenue (GGR) of US$379m for the first nine months of the year 2023, up 12.1 per cent year-on-year. Unaudited preliminary earnings before interest, tax, depreciation and amortisation (EBITDA) was US$215.4m, up 17.4 per cent year-on-year.
