Parkus Completes Cancellation of 2.03 Million Treasury Shares... 14% Reduction in Outstanding Shares Enhances Shareholder Value

Parkus Co., Ltd. (065690) announced on August 4 that it has completed the cancellation process for 2,034,824 shares of its treasury stock.

As a result of this cancellation, Parkus Co., Ltd.'s total number of outstanding shares has been reduced from 14,049,331 shares to 12,014,507 shares. This represents a decrease of approximately 14.48% in the total number of issued shares, which is expected to enhance per-share value.

The company explained that this treasury stock cancellation marks the first implementation phase of its shareholder return policy. Parkus Co., Ltd. also plans to continue with its ongoing additional treasury stock buybacks as scheduled, maintaining its step-by-step, shareholder-friendly approach.

A representative from Parkus Co., Ltd. stated, "This treasury stock cancellation is the first step in our phased cancellation policy to enhance shareholder value. We will also proceed with additional buybacks as planned to continue our ongoing shareholder return initiatives."

The representative continued, "The company is securing future growth engines such as its K-Beauty platform and optoelectronics platform based on a stable financial structure and owned assets. However, we believe that the company’s intrinsic value is currently not fully reflected in its valuation."

They further added, "Given the value of our assets and future growth potential, our current share price remains significantly undervalued. With proactive investor relations activities and shareholder-friendly policies, we aim to strengthen communication with the market and drive a revaluation of the company’s value."

This treasury stock cancellation is seen as a strategy to reduce the number of outstanding shares and enhance shareholder value, while also prompting the market to reassess the company’s future growth businesses, such as the K-Beauty and optoelectronics platforms.

This content was produced with the assistance of AI translation services.