Hoa Sen to issue shares in celebration of its 15th anniversary.
The Hoa Sen Group JSC (stock code HSG) has decided to issue more than 3.46 million shares under the ESOP program to senior officers and staff on the occasion of its 15th anniversary.
It has approved the issuance of more than 3.46 million ESOP shares at an issuance rate of 1.76 per cent. The value of the shares will be over VND34.6 billion ($1.52 million), with a release date expected in April. The issue price has been determined at VND10,000 per share ($0.43). HSG’s shares currently trade at around VND47,000 per share ($2.06), putting the value of the ESOP shares at more than VND160 billion ($7 million).
Those receiving the shares include leaders, executives and key staff at the group at the founding date, senior management and the chief accountant, staff who have worked for Hoa Sen Group for 15 years, and staff in key positions at the parent company and affiliates.
The ESOP shares cannot be sold for three years, with a transfer fee of 50 per cent imposed on sales in the fourth and fifth years.
On February 27, the Hoa Sen Group finalized the list of shareholders to pay the first dividend of the 2015-2016 financial year, in cash at a rate of 10 per cent, or VND1,000 ($0.043) per share.