Dubai – Mubasher: DXB Entertainments on Wednesday said its ordinary general meeting (OGM) approved the launch of an Employee Share-based Incentive Plan (ESOP).
The ESOP involves issuing up to 155 million new shares but is pending approval by the Securities and Commodities Authority (SCA), according to a bourse filing.
The total period of the programme will be two years, starting 1 May 2017 until 30 April 2019, DXB had said in a previous statement.
The OGM, held Tuesday, 18 April, also approved the decision to amend the company’s articles of association to increase the number of board members to nine.
The Dubai-listed entertainment company last reported a 337% surge in its losses to AED 485 million in 2016, from AED 111 million in 2015.
