[Edaily Reporter kyoungeun kim ] GAEASOFT(051160)is trading higher after announcing plans to cancel its treasury shares. According to MP Doctor, as of 10:07 a.m. on the 3rd, GAEASOFT is trading at 9,630 won, up 520 won (5.71%) from the previous day. It briefly rose to 10,530 won during the trading session. GAEASOFT announced today that it will cancel 1,991,782 shares of treasury stock it holds on October 10. The estimated value of the cancellation is 20,001,399,000 won, representing 12.88% of the total issued shares. This cancellation involves disposing of previously acquired treasury shares within the scope of distributable earnings through a board resolution; it is structured so that only the number of issued shares decreases without reducing the company’s capital. Expectations that the reduction in the number of shares outstanding will mitigate earnings dilution are believed to have spurred buying interest.
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