[Edaily Reporter Park Sun-Yeop ] SJ Group Co., Ltd.(306040)announced on the 15th that it has decided to cancel 578,784 shares of treasury stock it had previously acquired.
The estimated value of the shares to be canceled is 4.71922 billion won, based on their book value as of the date of the board resolution. The cancellation is scheduled for the 22nd, though this date is subject to change following consultation with relevant authorities.
The shares to be canceled in this transaction account for approximately 5.87% of the total issued shares of 9,865,828 prior to the cancellation. Once the cancellation is complete, the total number of issued shares will decrease to 9,287,044.
This cancellation involves the cancellation of treasury stock already acquired, pursuant to a board resolution. Only the number of issued shares will decrease; the capital stock will remain unchanged.
SJ Group Co., Ltd. explained, “We decided to cancel treasury shares to enhance shareholder value and market confidence.”
The estimated value of the shares to be canceled is 4.71922 billion won, based on their book value as of the date of the board resolution. The cancellation is scheduled for the 22nd, though this date is subject to change following consultation with relevant authorities.
The shares to be canceled in this transaction account for approximately 5.87% of the total issued shares of 9,865,828 prior to the cancellation. Once the cancellation is complete, the total number of issued shares will decrease to 9,287,044.
This cancellation involves the cancellation of treasury stock already acquired, pursuant to a board resolution. Only the number of issued shares will decrease; the capital stock will remain unchanged.
SJ Group Co., Ltd. explained, “We decided to cancel treasury shares to enhance shareholder value and market confidence.”
