Meta Health (SGX:5DX) agreed to issue 20 million shares to the company's chief medical officer, Bernard Ng Kee Huat, at SG$0.008 per share, according to a filing with the Singapore Exchange on Thursday.
The shares will be issued as payment in lieu of a performance-based incentive bonus, the filing said.
Following the issuance, Huat's shareholding in the company will increase to roughly 3.94% of Meta Health's enlarged share capital.
Meanwhile, Huat tendered his resignation as the group's chief medical officer on May 21. His last day with the company will be June 15.
Shares of the company surged over 20% in recent trading.
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