On the 14th, NC announced that it had decided to dispose of treasury shares worth approximately ₩19.26 billion for the purpose of enhancing shareholder and corporate value and motivating employees.
The disposal involves 80,576 common shares. Specifically, 67,056 shares will be allocated to employees at the headquarters, and 13,520 shares will be allocated to employees at subsidiaries. The price per share is set at ₩239,000, based on the closing price on the 13th, the day before the board resolution.
The shares will be distributed to a total of 4,708 employees currently working at NCSoft headquarters and its subsidiaries as of the scheduled disposal date.
Based on a simple calculation, each employee is expected to receive approximately ₩4.09 million worth of stock (about 17 shares).
This disposal decision is part of the ‘Treasury Share Holding and Disposal Plan’ approved at the 29th Annual General Meeting of Shareholders on March 26. However, the actual disposal amount and the number of recipients may vary slightly within the limits approved by the board, depending on future stock price fluctuations or changes in the number of employees at the time of distribution.
NCSoft will proceed with the disposal on the 24th by directly transferring the shares from the company’s treasury account to the individual accounts of the eligible employees.
The company expects the dilution effect of this treasury share disposal on stock value to be minimal. This is because the number of shares to be disposed of accounts for only 0.37% of the total issued shares, and the distribution will be made via direct transfer to the recipients’ accounts rather than through open-market sales on the KOSPI.
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PakarPBN
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