IEL Science Grants 340,000 Shares Owned by Major Shareholders to Employee Stock Ownership Plan for Free

[Asia Economy Reporter Lee Seon-ae] IL Science announced on the 19th that it has decided to donate 340,000 shares owned by the major shareholder to the employee stock ownership association free of charge.

The company expects that this free donation will enhance the social status of employees and promote labor-management cooperation. The lock-up period is 4 years, and the estimated related cost is 2,091,680,000 KRW. If an employee leaves without fulfilling the mandatory deposit period, the shares will be reclaimed and reassigned.