EOFlow Supports Purchase of EOFlow Shares by Executives and Employees

EOFlow Co. announced on Jan. 4 that it supported the purchase of EOFlow shares worth 2.5 billion won by its executives and employees.

The company supported a total of 30 employees, including all executives and senior managers, to purchase 158,857 EOFlow shares through employee loans. It is worth about 2.5 billion won. All participating employees signed voluntary lock-up agreements for a year.

According to the company, there is a consensus among the employees that the company’s stocks are significantly undervalued, presenting significant growth opportunities, and the company offered a voluntary stock purchase program with supporting loans bearing market-rate interest. The company said that this was an incentive program designed to align the interest of its key employees to that of the company and investors.

EOFlow’s chief financial officer (CFO) Richard An says, “As the company expects significant financial performance improvement throughout 2023, and negotiations with potential partners in other regions going smoothly, EOFlow is gearing up with automated production lines at Gonjiam new facility for large-scale orders. The positive business environment continues for EOFlow." He says, "This company stock purchase program demonstrates the confidence of the company and its members on the future growth of the company."

CFO Richard An continues, "As our employees and the company’s interest are aligned, we will continue to work hard to eventually become the No. 1 provider of the global wearable drug delivery solutions."