[E-Daily Reporter PARK KIJOO ] #LS Electric announced on the 15th that it will sell 6.1 billion won worth of treasury stock for employee stock compensation.

The treasury shares to be sold by LS Electric consist of 32,520 common shares, valued at approximately 6.104 billion won as of the previous day (July 14). The number of shares scheduled for sale is based on the day before the board resolution (July 14) and may vary depending on the number of eligible recipients on the actual sale date.

The planned distribution period runs from the 16th of this month through the 14th of next month, and 3,252 employees are eligible to receive the shares.

Based on this, each employee is expected to receive an average of about 10 shares (worth 1.88 million won) of treasury stock. However, the actual amount distributed may vary depending on the number of eligible recipients and the stock price at the time of distribution.

The company explained that the treasury shares being disposed of this time represent 0.02% of the total number of issued shares, and it expects the dilutive effect on share value to be minimal. LS Electric received approval for its plan to hold and dispose of treasury shares “for the purpose of employee compensation” at its 52nd Annual General Meeting of Shareholders on March 26.