Bloomberry Resorts Corporation, formerly known as Active Alliance, on Thursday announced it approved a new scheme encouraging employees and officers become stockholders of the company.
“The board of directors of Bloomberry Resorts Corporation approved today the stock incentive plan (SIP) for directors, officers, and employees of the company and its operating subsidiaries,” the company said in a disclosure to the Philippine Stock Exchange.
Of the company’s 10,471,804,256 outstanding shares, 7 percent will be allocated for the SIP.
The SIP will be presented to stockholders during the annual shareholders’ meeting on June 25.
“The SIP is intended to improve employees’ and other participant’s net worth, allow employees and other participants to participate directly in the company’s worth, and motivate employees and other participants toward greater productivity,” the Enrique Razon-led company noted.
The plan would encourage employees to remain with the company or its subsidiaries and affiliates, thus expanding its shareholders’ base.
The company’s wholly owned subsidiary Bloomberry Resorts and Hotel Inc. owns the first integrated gaming complex located at Entertainment City Manila in Parañaque City’s reclamation area.
The new shares scheme will be administered by a stock incentive committee, composed of three directors appointed by the board.
Permanent and regular employees of Bloombery Resorts and its subsidiaries and affiliates, working for at least year with the company, as well as officers and directors are qualified for the SIP. —With Rouchelle Dinglasan
source: gmanetwork.com
