Louis XIII grants 229,000 stock options

    Louis XIII Holdings said it granted 229,000 employee share options to subscribe for ordinary shares. It’s the latest company to announce employee benefits as the competition for labor in Macau tightens.
    The exercise price of the options is HK6.80 ($0.88) a share, which represents a premium of approximately 13.52 percent to the closing price of HK$5.99 on the date of the grant.
    The options give the holder the right to purchase one ordinary share and are valid for four years. The company said the grantee was not a director of the company, though it was unclear from the Hong Kong Stock Exchange filing how many employees may have been involved.
    Casino operators in Macau has been increasingly turning to share options and other bonus schemes to retain and attract key staff. The tight labor market is one of the key concerns, especially as new casino projects begin to open from next year.
    Las Vegas Sands, whose Sands China unit this week announced a series of improvements to its employee package, said bonuses had hurt Q2 EBITDA to the tune of $29 million both in Macao and on a consolidated basis.