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SOLU M.(photo = SOLU M) |
[Alpha Biz= Paul Lee] SoluM announced on May 19 that it has decided to cancel all 1,189,315 treasury shares it holds, representing 2.43% of its total shares, as disclosed in a regulatory filing.
The company explained that this decision aims to alleviate market concerns regarding the use of treasury shares and to restore shareholder trust.
Previously, SoluM had considered selling its treasury shares to the largest shareholder, but faced opposition from some shareholders who felt that the proposed price did not meet their expectations.
At the time, the company considered selling at 17,750 KRW per share, which was below the average purchase price of 19,429 KRW per share for the treasury shares.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
