VALOFE Completes Cancellation of Approximately 370,000 Treasury Shares… Begins Full-Scale Efforts to Enhance Shareholder Value
EPS and Book Value Per Share Expected to Improve Due to a Decrease in the Number of Shares Outstanding
"We will continue to review additional shareholder return policies"
[E-Daily Reporter Hyera Lee ] VALOFE(331520)announced on the 10th that it has completed the procedure to cancel 371,692 shares of its own stock, in accordance with its previous disclosure. VALOFE CI. (Photo = VALOFE) This treasury stock cancellation is part of the company’s ongoing policy to enhance shareholder value. VALOFE explained that as the number of outstanding shares decreases, the value of existing shareholders’ stakes will increase, and the company expects this to lead to improvements in earnings per share (EPS) and share value in the future. The company has recently been strengthening shareholder-friendly policies—including the CEO’s purchase of company stock, the acquisition and cancellation of treasury shares, and expanded communication with investors—while continuing activities to enhance corporate value. Shin Jae-myung, CEO of VALOFE, stated, “This share cancellation is a measure to translate our growth achievements into enhanced shareholder value,” adding, “We will continue to review various shareholder return initiatives to enhance corporate value and maximize shareholder returns.” Meanwhile, VALOFE plans to secure new growth drivers by strengthening the competitiveness of its existing live services, launching the official service of “Kritika” in Greater China in the second half of the year, and developing business models based on secondary intellectual property (IP) utilization.ㅂ
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