VVS successfully issues ver 1 million ESOP shares

Vietnam Machine Investment Development Joint Stock Company (VIMID, stock code: VVS) has successfully completed the issuance of shares under its Employee Stock Ownership Plan (ESOP) 2023.

On September 25, 2023, the State Securities Commission of Vietnam (SSC) officially announced the receipt of all required documents regarding VVS’s ESOP share issuance report on its website at www.ssc.gov.vn

On November 3, 2023, VIMID (stock code: VVS) successfully issued 1,025,000 ESOP shares, equivalent to 5% of its total outstanding shares, at an issue price of VND 14,000 per stock. These shares are subject to a one-year transfer restriction period.

The purpose of this stock issuance is to acknowledge the dedication, commitment, and contributions of VIMID’s employees to the company’s growth, while also motivating them to strive for further professional development and strengthening their long-term bond with the organization. This program serves as a form of recognition and encouragement from VIMID, aiming to enhance employees’ sense of ownership, responsibility, and benefits, as well as to attract and retain talented, experienced, and devoted personnel who will help ensure the company’s continued stability and sustainable growth.

In addition, the stock issuance aims to supplement working capital for business operations, in accordance with the content approved in Resolution No. 01/2023/NQ-ĐHĐCĐTN-MVN of VIMID’s 2023 Annual General Meeting of Shareholders, dated April 22, 2023.