LG, 3,500to strengthen shareholder returns by announcing the cancellation of all treasury shares worth
LG said 5month 22day that, to enhance shareholder value, it would cancel all treasury shares worth. The company said the cancellation would be carried out within the scope of its distributable profits.3,500LG said it would cancel all treasury shares worth to enhance shareholder value. The company said all of the treasury shares it holds are subject to cancellation. The decision was presented as part of its shareholder return policy.
![LG, 3,500to strengthen shareholder returns by announcing the cancellation of all treasury shares worth/blog-images/gen-6540f4aa-8a2f-474b-9c38-b693ab967606.png)
LG said 5month 22day that, to enhance shareholder value, it would cancel all treasury shares worth. The company said all of its treasury shares held are subject to cancellation. The decision was presented as part of its shareholder return policy.3,500LG said it would carry out the cancellation within the scope of its distributable profits. The company disclosed that it would proceed in accordance with relevant laws and procedures. It said further details on the cancellation schedule and procedures would be provided in a future disclosure.
Cancellation of treasury shares is a measure by which a company eliminates its own shares. When shares are cancelled, the number of shares issued by the company decreases. The company classified this as one method of returning value to shareholders.
LG said it would carry out the cancellation within the scope of its distributable profits. The company disclosed that it would proceed in accordance with relevant laws and procedures. It said further details on the cancellation schedule and procedures would be provided in a future disclosure.
The company stated that the measure is intended to enhance shareholder value. The cancellation was presented as a shareholder return measure to be carried out alongside dividends. The company plans to disclose related details in a separate filing.
The announcement disclosed an example of the company implementing its shareholder return policy. The company has repeatedly stated that it will cancel treasury shares only within the scope of distributable profits. Details can be confirmed through an official filing on the subsequent cancellation procedures.
Sources: 매일경제 산업
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