[Edaily Reporter Kim Hyung-il ] Neptune Company(217270), a gaming and advertising platform company, will cancel 1,081,286 shares of treasury stock it acquired. This represents 2.31% of the total issued shares and is a measure aimed at enhancing shareholder value.

On the 13th, the Neptune Company announced in a regulatory filing that its board of directors had decided to cancel 1,081,286 common shares. The cancellation is scheduled for the 21st.

The shares to be canceled are treasury shares previously acquired by Neptune Company, and the estimated cancellation amount is 15,136,290,000 won. This amount represents the book value as of the date of the board resolution, calculated by multiplying the average acquisition cost of the treasury shares to be canceled by the number of shares to be canceled.

As a result of this cancellation, Neptune Company’s total number of issued shares will decrease from 46,735,643 to 45,654,357. The shares to be canceled represent approximately 2.31% of the total issued shares.

The Neptune Company explained that this treasury stock cancellation is in accordance with the proviso to Article 343, Paragraph 1 of the Commercial Act, and while the total number of issued shares will decrease, the company’s capital will remain unchanged.

Meanwhile, the planned redemption amount is based on book value, and the value of the treasury shares to be redeemed—calculated using the closing price on the day prior to the board resolution—is 2,741,060,000 won. Neptune Company stated that the scheduled redemption date is subject to change depending on consultations with relevant authorities.