Genting Singapore Ltd said on Thursday that a previous resolution to make a performance-related share award to its executive chairman Lim Kok Thay, involved incorrect procedure, as another firm linked to Mr Lim and his son Lim Keong Hui, should have abstained from voting on the matter. That resolution had been approved at an extraordinary meeting in February 2020.
Genting Singapore controls the Resorts World Sentosa casino resort in Singapore.
“The company takes note of feedback given by the Singapore Exchange that Genting Overseas Holdings Ltd should have been required to abstain from voting” on the performance share matter, said Genting Singapore in a Thursday filing to that bourse.