[Edaily Reporter Kim Hyung-il ] INNOMETRY Co., Ltd.(302430), a company that develops and manufactures automotive batteries and semiconductor and display testing equipment, announced on the 13th that it has decided to cancel 30,000 of its own shares.

The shares scheduled for cancellation consist of 30,000 common shares, representing 0.31% of the total issued shares of 9,833,208 prior to the cancellation. The estimated cost of the cancellation is 268.98 million won, and the scheduled cancellation date is the 20th.

This cancellation involves the retirement of treasury shares acquired within the scope of distributable profits, in accordance with a board resolution. As a result, the total number of issued shares will decrease to 9,803,208, but there will be no change in the company’s capital stock.

The cancellation of treasury stock has the effect of reducing the number of shares circulating in the market, thereby increasing the value of existing shareholders’ stakes. Through this cancellation, INNOMETRY Co., Ltd. will retire its held treasury stock and work to enhance shareholder value.

Meanwhile, the estimated amount to be canceled was calculated based on the average acquisition cost of the treasury stock as of the date of the board resolution and may be subject to change during the actual accounting process.