MB is about to issue 19 million ESOP shares at half the market price.

Military Commercial Joint Stock Bank (MB - HoSE: MBB) has just announced a plan to issue shares under the employee stock option program ( ESOP).

Accordingly, MB plans to issue a maximum of more than 19.2 million shares to employees at an issuance rate of 0.3639% of the total number of outstanding shares. The total issuance value is 192.4 billion VND.

The issuance price is 10,000 VND/share. In the market, in the morning trading session of May 30, MBB shares are trading around 22,100 VND/share. Accordingly, the price of ESOP shares is equal to half of the current market price of shares. The time to receive money to buy shares is from June 3 to June 14, 2024.

The transfer restriction period is 5 years from the end of the issuance period, the transfer restriction release period is 50% of the number of shares at the end of the 3rd year and 100% of the number of shares at the end of the 5th year.

Before the issuance, MB's charter capital was VND52,781 billion. After the issuance, the bank's charter capital is expected to increase to VND53,063 billion.

MB also announced the list of 16 senior officers registering to buy ESOP shares at the bank. Accordingly, senior officers are expected to buy 3.1 million ESOP shares this time, with the largest buyer being General Director Pham Nhu Anh with 547,000 MBB shares.

The plan to issue more than 19.2 million ESOP shares to increase charter capital was approved at MB's 2023 Annual General Meeting of Shareholders. However, MB has only implemented it this year.

At the 2024 Annual General Meeting of Shareholders of MB, it was also approved to increase charter capital by more than VND 8,579 billion. Accordingly, in addition to increasing capital by VND 7,959 billion by paying dividends in shares, MB continues to plan to issue an additional 62 million shares privately, equivalent to an increase in charter capital of VND 620 billion.

The implementation period is from 2024 to the second quarter of 2025. Previously, the bank completed the private issuance of 73 million shares to two shareholders, SCIC and Viettel. After completing the above two capital increase plans, MB's charter capital is expected to increase to VND61,643 billion.

On June 15, MB will hold an extraordinary General Meeting of Shareholders to elect the Board of Directors (BOD) and Supervisory Board for the 2024-2029 term. It is expected that in the new term, MB will have 11 members of the BOD, including 1 independent member.

Accordingly, the new Board of Directors of MB is expected to have 4 old members: Mr. Luu Trung Thai, Ms. Vu Thi Hai Phuong, Ms. Vu Thai Huyen, Mr. Le Viet Hai and 7 new faces: Mr. Pham Nhu Anh, Mr. Pham Doan Cuong, Ms. Hoang Thi Thu Hien, Ms. Nguyen Thi Hai Ly; Mr. Vu Xuan Nam; Mr. Vu Thanh Trung and Mr. Hoang Van Sam (independent member candidate).

The bank's Supervisory Board for the 2024-2029 term will have five members, all of whom are full-time members .

Source: https://www.nguoiduatin.vn/mb-sap-phat-hanh-19-trieu-co-phieu-esop-re-bang-nua-thi-gia-a666023.html