Kakao Games Secures 1.5 Trillion Won for Shareholder Returns... Management Also Purchases Treasury Shares

Two Shareholder Return Proposals Approved at Extraordinary General Meeting
1.54 Trillion Won Transferred to Retained Earnings
Co-CEOs and CFO Purchase 500 Million Won in Treasury Shares

Kakao Games has initiated efforts to enhance shareholder value through a capital reserve reduction of 1.54 trillion won and a total purchase of approximately 500 million won in treasury shares by the management.

Kim Tae-hwan (right) and Lee Si-woo, Co-CEOs of Kakao Games. Courtesy of Kakao Games

On August 24, Kakao Games announced that it held an extraordinary general meeting of shareholders at the Kakao AI Campus in Yongin, Gyeonggi Province, and approved two agenda items to implement its mid- to long-term shareholder return policy.

The approved agenda items are "Approval of the plan for acquisition and disposal of treasury shares" and "Offsetting deficits and transferring capital reserve to retained earnings," both of which are part of Kakao Games' mid- to long-term shareholder return policy.

Last month, Kakao Games cancelled 500,000 treasury shares and now plans to use approximately 350,000 treasury shares remaining after cancellation as resources for its Restricted Stock Units (RSU) plan for employees. About 1.54 trillion won in capital reserve will be reduced and transferred to retained earnings.

The management also purchased company shares to demonstrate their commitment to shareholder value enhancement and responsible management. Through recent open-market split purchases, CEO Taehwan Kim and CEO Siwoo Lee each acquired 16,793 and 23,358 shares, respectively. This is the first time since his appointment that CEO Kim has held treasury shares.

CEO Siwoo Lee stated, "We will promote the simultaneous growth of shareholder value and corporate value, and will continue to implement the shareholder return policy from a mid- to long-term perspective."

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