SINGAPORE Hong Kong
Exchanges & Clearing Ltd. (HKEx) has approved an award of
shares to London Metal Exchange chief executive officer Martin
Abbott that are worth almost £500,000 ($770,000).
Abbott, who is now also co-head
of global markets at HKEx, would be awarded equity valued at
£495,833, the exchange said May 8.
"HKEx adopted the share award
scheme to recognize the contributions of certain employees and
help retain them for the groups operation and further
development," the exchange said.
The total value of shares given
to "selected individuals" at the LME would be worth a little
more than £1.77 million ($2.7 million), the exchange
said, without detailing any of the other awards.
Martin Abbott has already
received £7.36 million ($11.4 million) from the sale of
the LME via a long-term incentive plan.