LS Electric to Grant KRW 6.1 Billion Worth of Treasury Shares to 3,200 Employees

LS Electric announced on the 15th that it would dispose of KRW 6.1 billion worth of treasury shares for employee stock compensation.

The treasury shares to be disposed of by LS Electric consist of 32,520 common shares, amounting to approximately KRW 6.104 billion based on the previous day's closing price of KRW 187,700 per share.

LS Electric Cheongju Smart Factory View. LS Electric

The scheduled disposal period is from the 16th of this month to August 14, and the recipients are 3,252 employees.

Based on this, each employee will receive an average of about 10 treasury shares (worth approximately KRW 1.88 million). However, the actual number of recipients and the market price of the shares at the time of disposal may cause the final allocation amount to change.

The treasury shares being disposed of this time represent roughly 0.02% of the total shares issued, and the company explained that the impact of dilution on the stock value is expected to be minimal.

LS Electric stated, "This disposal of treasury shares is aimed at promoting a cooperative corporate culture among employees and management, and the impact of dilution on the stock value is expected to be minimal."

This content was produced with the assistance of AI translation services.