Faker was officially granted the right to buy SK Telecom T1 shares

T1 Faker

On January 20, SK Telecom CS T1 announced that Lee “Faker” Sanghyeok has been officially granted the right to purchase shares in the group.

If Faker exercises his stock pick, he will become a shareholder of T1 with a share value of 5.66%. As a T1 shareholder, Faker is entitled to participate in most business activities and receive dividends from the corporation.

This resolution, approved on January 16, addresses third party rights issues.

According to information in the resolution, Faker can purchase 6,156 new shares of T1, equivalent to 2,097,419 KRW (~) per share. The stock option privilege can be exercised after a certain period of time.

Faker was previously officially granted “partial” ownership by T1 when it re-signed in 2020. However, the corporation reportedly split Faker into T1 shares, according to the financial report. Does not own shares to date. The following is the financial statement of the T1 group for 2021. Currently, T1 has not released the report for 2022 yet.

If Faker were to fully exercise his stock options, he would gain full ownership of 5.66% of T1’s shares. Before the rights issues, T1 previously held 102,601 shares. If Faker did the stock selection, the number of shares in the corporation would increase to 108,757. And to pay for all those 6,156 shares, Faker will need about 12.9 billion KRW.

The representative authority of T1 said:

“Faker is a player who has been in T1 for every year in the history of this team, since 2013.. With a 3-year contract with this stock option, both T1 and Faker have found common ground in their short- or long-term future goals. I believe that this event will contribute to the growth and development of both, as well as greatly increase the value of the group”.

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