Hanssem, share buybacks worth 500 billion won and a shareholder return ratio of 50% target disclosed

Hanssem announced that it would acquire treasury shares worth 500billion won as part of its shareholder return policy. The company said it would set the shareholder return ratio, combining cash dividends and treasury share buybacks, at 50% or higher. The company explained that this measure was a policy aimed at enhancing shareholder value from a medium- to long-term perspective.

The company entered into a trust agreement to acquire treasury shares. Shinhan Securities will handle the related execution work. The company said it plans to complete the acquisition by 12month.

Hanssem set the record date for determining dividend shareholders as 6month 30day. The record date is the date on which the list of recipients of dividend benefits is finalized. The company said it would reflect this record date in the dividend execution process.

The company set a target to return 50% or more of adjusted net income on a standalone basis. This target combines cash dividends and share buybacks. The company disclosed that it would pursue its return efforts by combining its existing treasury shares with newly acquired shares.

The company said it believes its current share price is undervalued relative to the value of its business. It said it would operate the policy from a medium- to long-term perspective rather than as a temporary measure. It said details of how the trust agreement would be executed and the timing of purchases would be provided through disclosures.

Shinhan Securities is responsible for executing the treasury share purchases. The company's plan is to newly acquire a total of 12 through the trust agreement by 500 this year. The specific purchase schedule and prices will depend on the trust's operating method.