[E-Daily Reporter Park Jung-Soo ] #WISEnut, Inc., a company specializing in domain-specific Agent AI agents, announced on the 8th that it has decided to cancel 1,291,728 shares of treasury stock worth 10 billion won.
The shares to be canceled are treasury shares acquired through on-market purchases between June 18 and July 7. The estimated value of the shares to be canceled is approximately 10 billion won, and the cancellation is scheduled for the 15th.
The number of shares to be canceled represents approximately 9.85% of the total 13,106,609 issued shares. Once the cancellation is complete, the number of issued shares will decrease to 11,814,881.
WISEnut, Inc. announced on June 17 that it had decided to acquire 10 billion won worth of treasury stock and stated its policy to cancel the entire amount upon completion of the acquisition. This cancellation is a follow-up measure to implement the shareholder return plan disclosed at that time.
The cancellation of treasury stock is a key shareholder return policy that increases per-share value by reducing the number of outstanding shares. The company explained that by canceling all acquired treasury stock rather than holding it, it has alleviated concerns about future re-circulation in the market and strengthened the effectiveness of its shareholder return policy.
Building on a stable earnings structure that has recorded profits for 14 consecutive years, WISEnut, Inc. is pursuing a dual strategy of shareholder returns and growth investments. Following a cash dividend of approximately 1.113 billion won at the end of last year, the company has decided to repurchase and cancel 10 billion won worth of treasury stock this year.
The company also plans to establish a mid- to long-term value-enhancement program in line with the government’s policies to boost corporate value. It intends to pursue its shareholder return policy by comprehensively reviewing dividends, share buybacks and cancellations, the allocation of investment funds, and financial stability management, all based on sustained revenue growth and profit expansion.
Kang Yong-sung, CEO of WISEnut, Inc., stated, “This share buyback and cancellation is the implementation of our shareholder return policy, which we promised to enhance shareholder value and strengthen market confidence.” He added, “As a company specializing in Agent AI, we will strengthen our business competitiveness and practice responsible management so that these results lead to increased corporate value.”
Meanwhile, WISEnut, Inc. is expanding its Agent AI-based AX (Artificial Intelligence Transformation) business in both the public and private sectors this year. The company explained that it has carried out public projects with organizations such as the Korea Employment Information Service and the Korea Electrical Safety Corporation, and has secured more than 80 cases of domain-specific Agent AI implementations in the finance, manufacturing, and distribution sectors.