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SIAS objects to Asia Pacific Breweries' phantom share
option plan
SINGAPORE: A storm is brewing between Asia Pacific Breweries, the maker of
Tiger Beer, and the Securities Investors Association of Singapore.
SIAS says it is strongly opposed to APB's decision to issue so-called
Phantom share options because - according to SIAS - they are not in the
interest of shareholders.
In response, APB says the plan is part of its staff bonus scheme, and would
not have any material impact on the company's finances.
Asia Pacific Breweries recently announced that it would replace its
Executives' Share Option Scheme that expired in July 2004 with a so-called
Phantom Share Option Plan.
APB had said there was little difference between executive share options and
phantom share options.
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