Rex International (SGX:5WH) signed an agreement with its chief executive officer, Per Lind, to allot and issue 1.9 million shares at SG$0.089 per share as part of his CEO remuneration package, according to a Tuesday filing with the Singapore Exchange.
Shares of the oil and gas exploration company were up over 1% in Wednesday trading.
The total value of the proposed issuance is SG$164,650.
The issuance will allow the company to allocate cash to streamline its business objectives.
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