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Photo = Yonhap news |
[Alpha Biz= Paul Lee] Meritz Financial Group announced on the 21st that it will cancel 6,090,941 shares of treasury stock it had previously acquired.
The total number of shares issued by Meritz Financial is 190,721,114 shares, and the cancellation will account for 0.3% of that total. The cancellation amount is estimated to be approximately 500.2 billion KRW, based on a per-share price of 500 KRW.
Meritz Financial explained, "After the trust agreement for stock repurchase, signed on March 22 last year, expired, the 6,090,941 shares were returned to the company." They continued, "The decision to cancel these treasury stocks was made to enhance shareholder value." Additionally, they clarified, "The cancellation of the treasury stocks acquired with distributable earnings will not result in a reduction of the capital stock."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
