Com2uS said in a filing on Jan. 5 it has decided to cancel treasury shares to enhance shareholder value.
The company will cancel a total of 646,442 shares, equivalent to 5.1 percent of total shares outstanding. The shares are treasury stock previously acquired by the company, and 50 percent of its total treasury shares will be cancelled.
The cancellation is scheduled for Jan. 12. The planned cancellation amount is about 58.15 billion won based on the average acquisition price.
The cancellation will reduce shares outstanding but not capital. After the cancellation is completed, total shares outstanding will change to 12,091,313.
Com2uS has actively implemented policies to enhance shareholder value over the past several years, including share buybacks, cancellations and dividends.
A Com2uS official said, "We will do our best for mid- to long-term corporate growth to enhance shareholder value, and we will discuss and 추진 in depth a range of shareholder return policies."
Ho-jeong Lee
lhj@d-today.co.kr