[Edaily Reporter Kwon Oh-seok] #PSTech, a manufacturer of measurement and testing equipment, is set to cancel its treasury shares to enhance shareholder value.

PS Tech announced in a regulatory filing on the 18th that it has decided to cancel treasury shares worth approximately 1.6 billion won. A total of 284,250 shares will be canceled, representing about 1.52% of the total issued shares. The cancellation is scheduled for the 30th.
Once this cancellation is complete, the number of issued shares will decrease from the current 18,705,320 to 18,421,070, with no change to the company’s capital stock.
The company expects this measure to increase earnings per share (EPS) by reducing the number of shares outstanding and to enhance the value of existing shareholders’ stakes.
PS Tech has steadily expanded its shareholder return policy based on a stable business foundation. The company has paid cash dividends for over 20 years since 2005, and last year, it announced a mid- to long-term shareholder return plan, having already retired 568,500 shares—half of the planned total of 1,137,000 treasury shares.
A Pistech official stated, “This treasury stock cancellation is being carried out as an extension of our shareholder return policy,” adding, “Going forward, we will continue to enhance corporate value by strengthening our business competitiveness while implementing various shareholder-friendly policies.”