[Edaily Reporter KIM SAE-MI ] Yuhan(000100)The company will cancel 425.3 billion won worth of treasury stock to enhance shareholder value.

Yuhan Corporation announced on the 23rd that it held a board of directors meeting and decided to cancel 6,064,420 shares of treasury stock it currently holds. The shares to be canceled consist of 6,031,820 common shares and 32,600 preferred shares. The cancellation is scheduled for the 31st.

The shares to be canceled in this round account for approximately 7.5% of the current total issued shares of 80,828,541. By class, this represents approximately 7.6% of the issued common shares and approximately 2.8% of the issued preferred shares.

Following the cancellation, the number of issued shares will decrease to a total of 74,764,121 shares, comprising 73,615,781 common shares and 1,148,340 preferred shares.

The estimated amount for the cancellation is 425.3 billion won. This figure was calculated based on the closing prices on the 22nd—the day before the board resolution—which were 70,200 won for common stock and 58,400 won for preferred stock.

Yuhan Corporation will not purchase new treasury shares but will cancel treasury shares it has already acquired. Since this involves canceling treasury shares acquired within the scope of distributable earnings via a board resolution, only the number of issued shares will decrease, while the capital stock will remain unchanged.

A Yuhan official stated, “The purpose of this share cancellation is to enhance shareholder value.”