‘Faker’ Sang-hyuk receives T1 stock options

Player Lee “Faker” Sang-hyuk

Eskay Telecom CST One (CEO: Joseph Patrick Marsh, hereinafter referred to as T1) announced today that it has granted stock option rights to player “Faker” Sang-hyuk. If Mr. Lee exercises the option, he will become a shareholder with a 5.66% stake in T1. He will be able to participate in T1’s business as a shareholder and receive dividends.

According to the disclosure, T1 resolved to implement a third-party allotment capital increase on the 16th. The resolution states that Lee can purchase 6,156 new T1 shares at a price of 2,097,417 won per share.

In February 2020, T1 re-signed Lee Sang-hyuk and granted him the right to join as a ‘part-owner‘. At the time, it was reported that he received a partial stake in T1, but according to the audit report published in April 2022, he did not have a stake until now. This audit report represents the 2021 business. The audit report for 2022 has not yet been published.

What Lee received was stock option rights, which can be exercised after a certain period of time.

T1 shareholding structure as of 2021
Lee Sang-hyuk’s stock options granted in January 2023

If Lee fully exercises his stock options, he will own 5.66% of T1. The total number of T1 shares before the capital increase is 102,601. If Lee exercises his stock options, the total number of shares will be 108,757. Of these shares, 6,156 are held by Lee, representing a 5.66% stake. To exercise 100% of the stock options, it would cost 12.9 billion won.

Disclosure.
= The original 340.7 won per share has been deleted because T1 officials have corrected that “the exercise price shown in the disclosure is the price per share that will be applied in the event of a future capital increase.” The stock option received by Lee Sang-hyuk is the right to participate in the capital increase at approximately 2.09 million won per share.

The capital increase that T1 conducted in November last year was for the purpose of raising money for operating expenses, while this stock option grant is different in that it is for the purpose of treating Lee Sang-hyuk.

“Mr. Faker has been a part of T1’s history since 2013,” said a T1 official. “This stock option agreement, along with the three-year long-term contract, 카지노사이트 signifies the convergence of T1’s and Mr. Faker’s short- and long-term goals, and is expected to contribute to mutual constructive growth and development along with enhancing corporate value.”

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