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FPT plans $4.39mn employee share issuance

Released at: 20:15, 17/03/2017

FPT plans $4.39mn employee share issuance

Photo: fpt.vn

2.3 million shares to be issued to selected employees.

by Van Dao

The FPT Corporation (HSX stock code FPT) has recently approved the issuance of a employee stock option plan (ESOP), with beneficiaries being employees at Level No.5 or above and other special staff who have made important contributions to the company’s development.

It plans to issue nearly 2.3 million shares to the selected employees at a price of VND10,000 ($0.44) per share in April. Sale of the shares is restricted for three years.

FPT shares are now trading around VND46,000 ($0.44), making the ESOP issuance worth over VND100 billion ($4.39 million).

In a document expected to be submitted to FPT’s upcoming annual general shareholders meeting, the company’s Board of Directors will seek approval of a dividend payment for 2016 at a rate of 15 per cent per share. It also plans to pay a dividend for 2017 at a rate of 20 per cent, in cash.

Regarding its ESOP in the 2017-2019 period, sales are restricted for three years and the quantity each year is not to exceed 0.5 per cent of charter capital at the time of issue. The issue will be made from 2018 to 2020.

FPT is the leading IT company in Vietnam and was the first internet service provider (ISP) and internet content provider (ICP) in Vietnam. Its shares were listed on December 13, 2006 on the Ho Chi Minh City Stock Exchange (HSX).

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