Grand Banks Yachts (SGX:G50) issued 1,950,000 options under the company's employee share option scheme at an exercise price of SG$0.228 per share, according to a filing with the Singapore Exchange on Friday.
Out of these options, the company's chief executive officer and executive director has exercised 1,350,000 options and his shareholdings in the company is now at 12,375,400 shares.
The new shares are expected to be listed and quoted on Sept. 17.
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