(NYO) - On March 29, 2014 at Sunrise Hotel, Nha Trang, the Executive Board of Nam Duong Corporation announced the plan to exercise the employees’ right to own shares. There are totally 23 outstanding staff members that received the first bonus shares issued by Nam Duong Corporation in phase 1 - 2014.

This is the employee stock ownership plan (ESOP) of Nam Duong Corporation, which is meant to encourage employees’ long-term devotion to the development of the company.

What is ESOP?

ESOP is a method employed by companies so that every individual working in the company can own the company shares. Employees can own the shares in many ways such as receiving bonus, buying directly from the company, or via ESOP.

ESOP is similar to a profit distribution plan and used as an instrument to confer the right to ownership of the company upon the staff.

Nam Duong’s ESOP

In Nam Duong, the Executive Board determines that the shareholders of the company include: strategic partners, market partners, investors, and internal partners. According to the ESOPs approved by the Executive Board in March 2014, in phase 1 there will be 66,000 transferable shares in March 2014. The amount of shares issued in phase 2 in 2014 will increase by 30%. In 2015 and 2016, the company will increase the amount bonus shares issued by 30% - 40%.

Value of Nam Duong’s shares has been determined by Kim Long Securities Company over the last two years according to the assessment of the distribution system, contracts for exclusive distribution of Namyang’s products, the experienced executive officers with strategic vision, and especially the qualified key personnel.

The recipients of bonus shares in the Nam Duong’s ESOP are the staff members that have appropriate seniority, positions, qualifications, with account taken of the future personnel planning. Thus, besides their current jobs, 23 staff members of Nam Duong Corporation have officially become the company’s shareholders and supervisors of the company’s operation.

The Executive Board and new shareholders of the company

The Executive Board wishes to increase the bond between the company and its employees by giving the bonus shares to 23 staff members of Nam Duong in phase 1 of 2014. Through this plan, Nam Duong Corporation recognizes the contributions of outstanding individuals to the company over the past period.

It is hoped that more employees of Nam Duong Corporation will receive bonus shares in the future, and that they will together work their best for the development and prosperity of Nam Duong Corporation

Thu Hien

List of 23 staff members of Nam Duong Corporation that receive bonus shares in phase 1 of 2014: