Samjin Pharmaceutical Decides to Cancel 14.6 Billion Won Worth of Treasury Shares... "Enhancing Shareholder Value"

Samjin Pharmaceutical (005500) announced on the 18th that it has decided to cancel 580,000 treasury shares to enhance shareholder value.

The target for cancellation is 580,000 treasury shares (common stock) already held by the company. This represents approximately 4.17% of the total number of issued shares (13.9 million shares). The estimated amount for cancellation is about 14.64047 billion won, and the scheduled cancellation date is the 25th.

This cancellation will be carried out through a 'profit cancellation' method, which eliminates treasury shares acquired within the scope of distributable profits.

The company explained through the disclosure, "As this is proceeding in accordance with the provisions of the Commercial Act, only the total number of issued shares will decrease, and there will be no reduction in capital."

The cancellation amount was calculated based on the accounting book value of the treasury shares subject to cancellation as of the date of the board of directors' resolution.