JAKS offers shares under long-term incentive plan to directors, employees

KUALA LUMPUR (Sept 14): JAKS Resources Bhd has offered share options under its long-term incentive plan (LTIP) to eligible directors and employees of the group and its subsidiaries.

In a filing with Bursa Malaysia, JAKS said the 57 million LTIP shares are offered at an exercise price of 23.7 sen per share.

Of these, 30 million shares are offered to directors, comprising 17 million to chief executive officer and managing director Ang Lam Poah, eight million to executive director Datuk Razali Merican Naina Merican, and five million to executive director Ang Lam Aik.

Another 13 million shares are offered to the group's senior management, and two million to other selected employees and executives.

JAKS' share price closed flat at 26 sen on Wednesday (Sept 14), valuing the group at RM521.17 million.

Over the last one year, the counter has declined by 46%.