[Edaily Reporter Kwon Oh Seok ] Global game publishing platform company VALOFE(331520)is set to launch a full-scale shareholder return policy by canceling all of the treasury shares it acquired last May. (Photo courtesy of VALOFE) VALOFE announced on the 29th that, following a board resolution, it has decided to cancel all 371,692 shares of treasury stock it currently holds (valued at approximately 1 billion won). The cancellation is scheduled for the 10th of next month, and following the cancellation, the total number of issued shares will be 9,801,186. This measure is an extension of the treasury stock acquisition plan announced last May; at that time, the company had signed a trust agreement with NH INVESTMENT & SECURITIES for the acquisition of treasury stock worth approximately 1 billion won and had announced its intention to cancel all acquired shares. The company explained that the cancellation of treasury stock is a key shareholder return measure that reduces the number of outstanding shares and thereby increases the value of existing shareholders’ stakes. It added that the decision to cancel the shares rather than simply hold them reflects the company’s commitment to enhancing shareholder value and corporate value. VALOFE has recently been strengthening its investor relations (IR) activities to broaden communication with the market and continues to pursue various shareholder-friendly policies to ensure its corporate value is appropriately assessed in the capital markets. Shin Jae-myung, CEO of VALOFE, “In the second half of this year, we are proceeding with the official launch in Korea and Greater China of the next installment in our ‘Kritika’ IP series, as well as the development of ‘Last Origin 2,’ and we are also diligently preparing our publishing lineup for the third and fourth quarters,” he said. “As we are on the verge of signing contracts with leading companies in Japan and China, we plan to enhance corporate value by simultaneously pursuing IP acquisitions and corporate mergers to diversify our business, in addition to generating key business results.”
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