LG, 3500to cancel all treasury shares worth hundred million won

LG 5in 22 announced that it had decided to cancel all of its treasury shares to enhance shareholder value. The decision covers treasury shares acquired within the scope of distributable profits. The company said the move is an implementation of its efforts to strengthen its shareholder return policy.

The company announced that it would cancel all 302ten thousand9581 common shares held as treasury stock. The decision covers the entire remaining amount held by the company. The announcement was made after the market closed that day.

The shares to be canceled account for 1.96% of all common shares issued. The company announced that the cancellation is scheduled for 28. Further details on the cancellation process and its completion will be provided through disclosures.

The value of the treasury shares designated for cancellation, based on the closing price that day, was about 3500hundred million won. This value was calculated based on the closing price formed in the market. The company calculated the value of the shares to be canceled to reflect the closing price.

The accounting book value was calculated based on an average acquisition cost per share of 8ten thousand2520 won, amounting to about 2500hundred million won, as disclosed. This figure is an accounting amount based on the acquisition cost. The book value is reflected at the time of accounting treatment.

Treasury share cancellation is a way for a company to permanently eliminate its own shares. Cancellation reduces the number of shares outstanding, which has the effect of increasing earnings per share (EPS). The company had already canceled half of the treasury shares it held last year.