Shift Up will implement shareholder return policies including cancelling treasury shares and buying back shares to enhance shareholder value.

On Monday, Shift Up disclosed that it held a board meeting and decided to cancel 330,000 previously acquired treasury shares.

The planned cancellation amount is about 10.13 billion won, and the scheduled cancellation date is March 31. The cancellation is based on the proviso to Article 343(1) of the Commercial Act, meaning only the total number of issued shares will decrease and paid-in capital will not be reduced.

Shift Up will also buy back 20 billion won worth of its own shares through NH Investment & Securities to enhance shareholder value. The contract period runs from March 11 to Sept. 10.

The company expects to acquire 651,465 shares, calculated based on 30,700 won, the closing price on the day before the board resolution. Actual acquisition volume and price may change depending on future share price movements.

Shift Up said it plans to cancel 320,000 shares among those acquired through the buyback within the year after the purchase period ends. Detailed plans for the remaining shares will be subject to annual approval at shareholders meetings, but may change depending on shifts in the business environment such as the company's financial condition and market conditions.