Go Yang Technology will cancel 450,542 treasury shares it holds. The shares are worth about 19.1 billion won based on the previous session’s closing price. Go Yang said on May 14 its board approved the plan. The cancellation is scheduled for May 22.

The cancellation implements shareholder meeting approval under Article 343(1) of the revised Commercial Act, which took effect in March 2026. The total number of issued shares will fall to 68,204,213 after the cancellation from the current 68,654,755, but capital will not decrease because it will be carried out as a cancellation of profits. The planned cancellation amount is 6,070,642,573 won at book value as of the disclosure date.

The company holds a total of 2,493,005 treasury shares. Of those, 901,084 shares were classified as subject to cancellation or disposal by shareholder resolution. The 450,542 shares to be cancelled this time are aimed at enhancing shareholder value, and the remaining 450,542 shares will be used as funding for future growth investments such as adopting new technologies and expanding new businesses, the company said.

The remaining 1,591,921 treasury shares are already tied to RSU contracts for employee compensation. They will be paid out sequentially according to a pre-disclosed schedule within the scope approved by the shareholder meeting, and the company explained there would be no overhang issue related to the treasury shares as a result.

A company official said the treasury shares it holds will be used only for already contracted employee compensation purposes and there are no additional plans to dispose of them in the market. The official said the company would continue a capital policy that considers a balance between enhancing shareholder value and sustainable growth.