[Edaily Reporter Hyera Lee ] #Knowmerce Corp. announced on the 8th that it has decided to cancel 93,189 shares of common stock. The estimated cost of the cancellation is 999,965,600 won, and the cancellation is scheduled for the 10th.
This cancellation will be carried out using treasury stock previously acquired by the company. The company explained that since it is canceling treasury stock acquired within the scope of distributable earnings, its capital stock will not decrease. It stated that the purpose of this cancellation is to stabilize the stock price and enhance shareholder value.