Embrain to Acquire Additional Treasury Shares…Strengthening Shareholder Returns Following Dividend
Macromill Embrain, a market research and data specialist company led by CEO Choi Insoo (hereinafter referred to as Embrain), is set to acquire additional treasury shares following its dividend program. The company plans to use the acquired shares to enhance shareholder value by linking them to future share cancellations.
On September 29, Embrain announced that its board of directors had decided to acquire 477,238 common shares through on-market purchases. The planned acquisition amount is approximately 801.76 million won. This figure was calculated based on the closing price of 1,680 won on September 28, the trading day prior to the board's resolution.
The treasury share acquisition period will run from September 30 to December 29. The purchases will be executed through Kiwoom Securities on the open market. The actual number of shares acquired and the total amount may vary depending on share price fluctuations during the acquisition period.
This buyback is an extension of Embrain's ongoing shareholder return policy. Previously, at its 28th annual general meeting, the company proposed a cash dividend of 45 won per share as an agenda item.
The company intends to expand its means of returning value to shareholders by pursuing share buybacks and cancellations in addition to the dividend. In particular, the shares to be acquired in this round are slated to be connected with future cancellations to further enhance shareholder value.
An official from Embrain stated, "Rather than focusing on short-term share price movements, we believe it is important to continuously share the value created by the company with our shareholders," adding, "We will seek to increase both our corporate value and shareholder value through a diverse array of shareholder return policies, including dividends and share buybacks and cancellations."
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With this additional treasury share acquisition, Embrain plans to continue expanding its shareholder return policies encompassing both dividend payments and treasury share buybacks and cancellations.
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