Mgame will proceed with an additional acquisition of treasury shares worth about 2 billion won. It is the company’s third treasury share purchase decision this year.

Mgame said in a regulatory filing on Oct. 30 that it held a board meeting and decided to acquire 575,539 common shares directly on the open market.

The planned purchase amount is about 2 billion won. The figure was calculated using the 3,475 won closing price on Oct. 29, the day before the board resolution. The planned number of shares represents about 3.07% of total shares outstanding.

The acquisition period runs from Oct. 31 to Jan. 30 next year. The company will buy the shares on the KOSDAQ market through Mirae Asset Securities, and the actual amount and number of shares acquired may change depending on share price movements.

Mgame plans to cancel all the treasury shares acquired this time within one year from the acquisition date. The detailed cancellation schedule will be set through a separate board resolution.

The company previously decided in May and June to buy back treasury shares worth about 2 billion won each, securing a total of 846,834 shares. Of those, 430,000 shares were cancelled on July 15.

Including this acquisition, the scale of treasury share purchases decided this year totals about 6 billion won.

It is also conducting cash dividends. In March, Mgame confirmed a year-end dividend of 222 won per share, totaling about 4.3 billion won. In July, it carried out an interim dividend of 110 won per share, totaling about 2.1 billion won.

Mgame Chief Executive Kwon Yi-hyung (권이형) said, "We are steadily pursuing cash dividends and the acquisition and cancellation of treasury shares," adding, "We will continue policies to enhance shareholder value going forward."