PS Electronics to Cancel Treasury Shares Worth KRW 3 Billion to Strengthen Shareholder Value
PS Electronics has decided to cancel approximately KRW 3 billion worth of treasury shares. On April 20, the company announced through a regulatory filing that it plans to cancel 553,454 common shares.
The shares to be canceled this time are treasury shares previously acquired and held by the company, with the aim of stabilizing the stock price and enhancing shareholder value. The par value per share is KRW 500, and the total cancellation amount is KRW 2,999,998,335.
The share cancellation is scheduled to take place on April 27. While the total number of issued shares will decrease, there will be no change to the company's capital.
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PS Electronics has consistently pursued a shareholder return policy by concurrently acquiring and canceling its own shares. The company stated, "We plan to continue making various efforts to enhance shareholder value alongside corporate growth."
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