SDN to Cancel 2 Million Treasury Shares Reducing Outstanding Shares by 3.08% to Enhance Shareholder Value
SDN has decided to cancel 2 million treasury shares through a board resolution, with the cancellation scheduled for June 16, 2026. This represents approximately 3.08% of the total outstanding shares of 64,944,350.
The cancellation is within distributable profits without reducing capital, aimed at stabilizing stock price and enhancing shareholder value. The book value of the cancelled shares is approximately 5.16 billion KRW.
Reducing the number of outstanding shares is expected to increase earnings per share and boost shareholder value. This action utilizes already acquired treasury shares, reflecting a shareholder-friendly capital allocation.
[AI Summary]SDN's share cancellation reduces outstanding shares by 3.08%, increasing EPS and shareholder value. It is an efficient capital return using existing treasury shares without capital reduction, and may also improve governance stability by reducing voting shares.