Celltrion Group issued a’stock trading ban’ for its employees and their families. This is because executives and employees are disposing of their stocks one after another.
According to the pharmaceutical industry on the 27th, Celltrion Group announced to its executives and employees through text messages that it would ban stock trading of Celltrion Group listed companies (Celltrion, Celltrion Healthcare, Celltrion Pharmaceuticals) until approval of its Corona 19 treatment product.
Regarding the reason for the ban on stock trading, he explained, “With the recent development of corona treatment, the stock trading of the company’s executives and employees may pose a problem not only of social interest but also of individual legal responsibility.”
In particular, the company included employees and their families in the subject of the stock trading ban, saying, “All stock trading in the stock market in the name of the person and his/her family, stock option exercised stocks, and employee stock ownership are prohibited.” It was not specifically stated whether it would be included as.
In addition, the Celltrion Group issued a’hamggu order’ to its employees and warned against the leakage of internal information and realization of short-term trading profits.
Moreover, it seems that it is cracking down on executives whose stock transaction details are subject to disclosure and development-related departments that can access internal information.
‘In the case of employees and all executives related to treatment development work, the risk of using undisclosed information is high and they are subject to disclosure, so not only prohibiting trading in Celltrion Group stocks until product approval, but also internal sharing and external sharing of information acquired related to corona treatment The act of delivery is also absolutely prohibited.’
Celltrion Group also said that if it is unavoidable to trade stocks, be sure to contact the IR department before stock trading.
Celltrion Group’s ban on stock trading is a result of the recent disposition of stocks held by executives and relatives who are related to Celltrion.
According to Celltrion’s report on the status of mass holdings of stocks released on the 24th, there are a total of seven related parties who sold Celltrion shares this month.
Most closely, Celltrion, outside director Kim Geun-young (member of the Audit Committee and Performance Compensation Committee), sold 3,000 shares on the market at a disposal unit price of 368,000 won on the 24th. It is worth about 1.1 billion won. Outside director Kim Geun-young is also the co-representative of the Incheon Economic Justice Practicing Citizens’ Union (Kyung Sil-ryun).
Lee Sang-yoon, head of global operations headquarters (Executive Vice President), sold 2,000 shares twice on the 9th and 11th. Disposal costs are KRW 398,000 and KRW 351,500, respectively, about KRW 800 million and KRW 700 million. This month alone, it has realized a market margin of about 1.5 billion won.
Heon-young Yoo, Vice Chairman of Celltrion Holdings, sold 5,000 shares every day on the 9th and 10th. The cost of disposal is 361,000 won and 365,000 won, respectively, which totals 3.6 billion won.
On the 7th, the director of the Celltrion Welfare Foundation of Gyeong-hoe sold 1,200 shares on the market for 396,000 won, realizing a market margin of about 500 million won. On the 3rd, Kim Bon-joong, head of the Chemical Product Development Division (Executive Director), sold 4,000 shares on the market, leaving only 308 shares left. The disposal cost was 350,000 won, which earned 1.4 billion won in market profit.
In addition to executives this month, the largest shareholders related to Celltrion also sold their shares.
On the 21st, Lee Jong-gwan sold 170 shares on the market for 3,69,500 won. It is worth about 63 million won. Lee Seong-jae sold 525 shares on the 8th for 373,571 won. It is worth about 200 million won. On the 27th of last month, he sold 500 shares on the market for 325,000 won and earned a market profit of about 160 million won.