Mgame will cancel all treasury shares it has already acquired to enhance shareholder value.

On July 1, Mgame disclosed that it will cancel 430,000 treasury shares it bought on the open market in May. That is about 2.24 percent of its total issued shares.

After the cancellation is completed, Mgame’s issued shares will fall to 18,772,574 from 19,202,574. The cancellation directly reduces the number of shares in circulation without reducing capital, helping prevent dilution of per-share value.

The company also decided at a board meeting on June 26 to acquire additional treasury shares worth about 2 billion won, or 50,378 shares. The purchase will be made through direct open-market buying on the Kosdaq market through Sept. 26, and the shares acquired will be cancelled later.

Key executives, including Chief Executive Kwon Yi-hyung (권이형), Vice President Cho In-han (조인한), Vice President Hong Deung-ho (홍등호) and Director Lee Jae-chang (이재창), also bought treasury shares worth 50 million won each. Mgame is also planning quarterly or semiannual dividends, and it will confirm and announce details later.

Kwon said, "This treasury share cancellation and additional treasury share purchase are an extension of the corporate value enhancement plan announced earlier, showing the company’s firm commitment to sustainable growth and enhancing shareholder value." He added, "We will continue to carry out shareholder returns based on stable profit generation and continue shareholder-friendly management steps that grow together with shareholders."