Decision to Dispose 300,000 Treasury Shares to Employee Stock Ownership Association for Free, Minimal Dilution Impact

Korea Information & Communication decided to donate 300,000 treasury shares to its employee stock ownership association. The disposal amount is approximately 2.37B KRW (based on closing price of 7,910 KRW), but no actual cash inflow as it is an in-kind transfer.
The purpose is to attract excellent workers and encourage long-term service by enhancing employee welfare. The shares transferred to the association will be mandatorily deposited for 4 years, eliminating short-term selling pressure.
This disposal represents only 0.8% of total outstanding shares, leading to minimal dilution. The treasury share ratio will decrease from 6.1% to 5.3%.
[AI Summary]This disclosure involves a free transfer of treasury shares to the employee stock ownership association, which is positive for employee motivation and retention but has limited impact on shareholder value. The short-term stock price effect is neutral, and the 4-year mandatory deposit controls overhang risk.