Employees of network giant ABS-CBN will soon be allowed to have a stake at the company at a 15% discount, thanks to the Lopezes.

In a statement to the Philippine Stoock Exchange, ABS-CBN said its Board of Directors has approved an ABS-CBN Stock Purchase Plan for its employees and executives.

A purchase plan is generally a means by which employees of a corporation are given the option to purchase ownership in the corporation’s, often at a discounted stock.

The ABS-CBN Stock Purchase Plan will be offered to rank and file employees, technical specialists and Internal Job Market members with at least one year tenure, with a maximum number of ABS-CBN common shares of 2,000 shares.

The subscription price will be a 15% discount on the closing price as of the offer date or 45-day weighted closing prices, whichever is lower, to be paid in five years.

The Executive Stock Purchase Plan, on the other hand, will be offered to managers and artists and members of the Board of Directors with at least one year tenure. Managers and artists can subscribe up to a maximum of shares equivalent to 2.5 months of their monthly salary or income.

Members of the Board of Directors can subscribe up to 100,000 shares and the subscription price for the first 2,000 shares will be a 15% discount on the closing price as of the offer date or 45-day weighted closing prices, whichever is lower.

?There will be no discount on the subscription price for the shares subscribed in excess of 2,000 shares. The subscription price will be paid in five years?, the statement said.

However, the Stock Purchase Plans is still subject to the approval of the stockholders and the Securities and Exchange Commission.