More than half of Celltrion’s sales released in the stock market since November are believed to be the amount to avoid the requirement of major shareholders before the end of each year.
Nevertheless, Celltrion recently banned the stock trading of executives and employees in consideration of the fact that the disposal of stocks by related parties could be unnecessary misunderstanding with the approval procedure for the Corona 19 antibody treatment agent.
According to Celltrion’s report on the status of large stocks held on the 24th, there are a total of eight related parties that have disposed of Celltrion shares since November. The total number of Celltrion shares sold by these eight people amounted to 3,473 shares, and the disposal price ranged from a minimum of 284,000 to 398,000 won.
Among them, the sale that accounted for the largest share was 10,000 stocks from Celltrion Holdings Vice Chairman Yoo Heon-young, while Vice Chairman Yoo Heon-young sold 5,000 shares on the market from December 9 to 10. The cost of disposal is 361,000 won and 365,000 won, respectively, which totals 3.6 billion won.
Next, it was found that Celltrion Director Baek Kyung-min (unregistered executive) sold a total of 7,078 shares twice on November 12 and 17. Disposal costs are 291,727 won and 284,000 won, respectively, worth about 2 billion won.
Celltrion Global Operations Headquarters Lee Sang-yoon and Chemical Product Development Headquarters Kim Bonjoong also sold 4,000 shares each.
Currently, outside director Kim Geun-young, who is also a member of the Celltrion Audit Committee and Performance Compensation Committee, co-representing the Incheon Economic Justice Practicing Citizens’ Federation (Kyungsil-ryun), sold 3,000 shares in the market at a disposal unit price of 368,000 won on the 22nd. Sold its shares.
In addition, on December 7, the outside director of Celltrion Welfare Foundation Kyeong-hoi sold 1,200 shares for 396,000 won on the market and sold about 500 million won worth of stocks. In addition, it was found that two shareholders, relatives of Celltrion, sold 1,025 shares and 170 shares, respectively.
It should be noted that out of the eight who sold stocks, Vice Chairman Yoo Heon-young and two relative shareholders are included in the requirements for large shareholders as the amount of shares remaining after the sale is significant, but the remaining five are subject to the large shareholders subject to transfer tax due to the sale of shares. Is that it has escaped.
Excluding Managing Director Kim Bon-jung, who sold 4,000 shares and left only 308 shares, outside director Kim Geun-young has 2,461 shares, outside director Kyeong-hoi 2,388 shares, Baek Kyung-min 2,082 shares, and Lee Sang-yoon 1,315 shares. The sales were arranged at the lower limit of KRW billion.
The government recently announced that it will maintain the previous standard as a requirement for large shareholders to impose equity capital gains tax at ‘1 billion won or more based on individual company shares’, and the transfer tax conditions for large shareholders are based on the closing price of December 30.
Although most of the employees’ stock sales are interpreted as the purpose of avoiding the transfer tax, Celltrion intends to block unnecessary controversies caused by the stock sale ahead of the approval process for the COVID-19 antibody treatment under development.
Accordingly, it notified its executives and employees that it will ban stock trading of Celltrion Group listed companies (Celltrion, Celltrion Healthcare, and Celltrion Pharmaceuticals) until the company’s COVID-19 treatment product is approved.
Celltrion said, “With the recent development of corona treatment, the stock trading of executives and employees may arouse social interest, as well as personal liability issues,” said Celltrion. “Stocks that exercised stock options and stock trading in all stock markets in the name of the person and family , We prohibit transactions with our owners.”