Gemadept Corp (GMD) has disclosed a resolution of the Board of Directors on a plan to issue 4,324,000 new shares for 2016 and the same volume of shares for 2017 under the Employee Stock Purchase Plan (ESPP) at VND10,000/share.
The share issue is scheduled for the second quarter of 2018.
The new shares are restricted for transaction within two years from the issuing date. In the two following years, 50% of the new sharse are allowed to be transferred each year.
The firm aims to use the proceeds to fund its working capital and enhance responsibilities of its employees to strive and share for its success.