SJG Sejong Decides to Cancel 768,662 Treasury Shares to Enhance Shareholder Value
SJG Sejong resolved on June 30, 2026 to cancel 768,662 common treasury shares, representing 2.76% of total outstanding shares. After cancellation, outstanding shares will decrease from 27,820,961 to 27,052,299.
Originally approved for disposal at a shareholder meeting, the board decided to cancel instead following shareholder feedback for value enhancement, with legal review confirming no legal issues.
Cancellation is scheduled for July 15, 2026, based on a book value of approximately 7.2 billion KRW and market value of 4.67 billion KRW. No capital reduction occurs.
[AI Summary]SJG Sejong's share cancellation reduces share count by 2.76% boosting EPS and shareholder value. Using existing treasury shares without additional cost and with legal clearance, this move is expected to positively impact short-term stock price.