Industrial software developer ISS Group (ASX:ISS) has issued $450,000 worth of shares to its new CEO, Richard Pang.
ISS has issued Pang 2.5 million shares at market price of 18 cents per share, in order to help “align his interests with those of all shareholders,” the company said in a statement.
ISS Asia has loaned Pang the cost of the shares in a five year loan accruing a personal interest rate, it added.
The new issue will not participate in ISS' 2010 final dividend.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.