FPT issues preference shares for staff with outstanding achievements
FPT Board of Directors just approved the regulation on Employee Stock Ownership Plan for staff with outstanding achievements in 2014. These shares are released under the optional program for employees and not bonus shares.
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09/04/2015
Employees with significant contributions to FPT’s development in 2014 will receive 1,719,317 shares, and then the total value at par value (10,000 shares) is VND 17,193,170,000. Calculated at current price (about 49,000 VND/share), they are worth of more than VND 80 billion. Shares are planned be issued in April. Staff will not permitted to transfer these shares in 3 years.
According to FPT Investor Relations Committee, the latest release of ESOP was implemented in 2013. Earlier, at the 2014 annual general meeting of FPT shareholders approved the resolution on ESOP. Accordingly, FPT will make three releses in 2015, 2016 and 2017 respectively.
The number of shares each release does not exceed 0.5% of charter capital at the time of release and is not transferred in 3 years. FPT Board of Directors authorized the company to decide details and implement this program.
In Vietnam, companies often carry out ESOP for excellent staff, good managers under their own criteria.
