Cheniere Energy Inc (LNG)

[9HikeDiscGolf]

02:10 PM EDT, 07/01/2014 (MT Newswires) -- Cheniere Energy (LNG) is scrapping a plan to issue 30 million shares to employees after opposition from shareholders, Dow Jones reported. Shares hit a 52-week high.

Dow Jones said Delaware court filings showed the company was dropping proposals on employee and executive pay packages it had submitted earlier for stockholder vote.

The abandoned pay plan would have set aside shares worth about $2.15 billion, the news provider said.

In afternoon trade, LNG was up 1.85% to $73.03 after hitting a 52-week high of $73.82 earlier in the session.

Price: 72.91, Change: +1.21, Percent Change: +1.69

www.mtnewswires.com © 2014 MT Newswires, a Division of MidnightTrader, Inc. All rights reserved.