Huons Meditech to Cancel Treasury Shares Worth 5 Billion Won, Aiming to Maximize Shareholder Value

"Enhancing Shareholder Value Through Treasury Share Repurchase and Cancellation"

Huons Group's aesthetics-focused company, Huons Meditech, announced on the 10th that its board of directors has resolved to cancel treasury shares worth 5 billion won.

Previously, from June 10 until September 9, Huons Meditech had acquired its own shares in the open market over a three-month period. The treasury shares to be cancelled were acquired through a trust purchase arrangement. The company will cancel 184,000 common shares, which corresponds to 1.64% of its total issued shares.

The treasury shares to be cancelled this time amount to the entire stock acquired from the market through the trust agreement, worth approximately 5 billion won. The company explained that this decision reflects the management’s strong commitment to enhancing corporate value.

Meanwhile, in line with its mid- to long-term dividend policy announced in February, Huons Meditech plans to pay a quarterly dividend of 200 won per share this year and intends to raise the annual per-share dividend by 5% to 30% in the future.

Mingjong Kang, CEO of Huons Meditech, stated, “This treasury share cancellation is a decision aimed at enhancing corporate value and maximizing shareholder value amid improved performance.” He further added, “We will actively use the resources secured through business growth for future growth engines and to further enhance shareholder value.”

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