LIG Nex1 will grant 10 shares of its own stock to all employees. Each employee will receive shares worth 3,115,000 won.
LIG Nex1 announced on the 23rd that its board of directors approved a motion to sell 50,930 shares of treasury stock to pay employee incentives. The shares scheduled for disposal account for 24.7% of the total treasury shares held by LIG Nex1 (205,640 shares).
The total amount for the disposal is 15.86469 billion won (31,150 won per share). The disposal is scheduled to occur from today until July 22.
All employees of LIG Nex1 (excluding executives) will receive 10 shares of treasury stock. As of the end of last year, the number of employees at LIG Nex1 was 4,789. The shares will be deposited into individual employee securities accounts.
LIG Nex1 explained, "We decided to distribute treasury shares to embody encouragement and motivation for all employees to unite in continuing the company's sustainable growth and to leap forward as a true global defense company."