# Summit Ascension Approves 69 Million Share Options To Most Directors

A Hong Kong investor in Russian casino resort Summit Ascension Holdings announced it had offered six directors and some employees and consultants the option to subscribe to shares in the company at an exercise price of HK$0.025 (roughly $0.13).

Summit Ascension said on Thursday that the options granted on the day to the Hong Kong Stock Exchange were valid for five years. The company said the grant was in line with the equity options scheme it adopted in 2011 to compensate for the Summit Ascension Group's contributions to its operations and development.

Summit Ascension invested its money in the Tigre de Crystal Casino Resort (pictured) near the Russian Far East city of Vladivostok. It is easily accessible to gamblers from nearby Northeast Asian countries.

Summit Ascension Chairman and Non-Executive Director Guo Zhenhao and Vice Chairman and Managing Director John Wang each received 12 million, Executive Director Eric Landahier 7.9 million, and Gerard McMahon, Lau Yucheng and Li Chakhong all received 1.4 million choices each as independent non-Executive Directors, according to the company's announcement.

On Wednesday, Summit Ascension said Andrew Roqai Bong had been appointed as a non-executive director of the company. Ro is also the executive director of Hong Kong-listed Suncity Group Holdings, which is controlled by Alvin Chow Chuck Wah, founder of Suncity Brands, and is interested in several casino projects outside of Macau, including Vietnam and Cambodia.

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