BEA directors with plenty to smile about after stock's 88pc surge
Bank of East Asia's directors must have been giddy to see the lender's shares flying. Except perhaps the five of the 17 board members who do not own the stock.
Its price jumped an auspicious 88 per cent last year.
They included three very wealthy men: PCCW chairman Richard Li Tzar-kai, Sun Hung Kai Properties vice-chairman Thomas Kwok Ping-kwong and Vitasoy chairman Winston Lo Yau-lai.
The rest are probably happily counting away anyway. After chairman David Li Kwok-po and his siblings, who together control 9.04 per cent of BEA, V-Tech chairman Allan Wong Chi-yun owns 10.48 million shares with a market value of HK$465 million and electronics tycoon William Mong Man-wai holds 6.13 million shares worth HK$272 million, based on yesterday's closing of HK$44.40.
The three executive directors are sitting on huge paper profits as well. David Li, who owns 30.06 million shares, also holds 3.85 million in unexercised options priced between HK$14.90 and HK$15.80 worth a cool HK$1.5 billion.
