CHUNGDAMGLOBAL to Cancel 458,373 Treasury Shares Reducing Outstanding Shares by 2.17% to Enhance Shareholder Value
CHUNGDAMGLOBAL has resolved to cancel 458,373 treasury shares already in its possession.
The cancellation is scheduled for July 16, 2026, using shares acquired within distributable profits.
This will reduce total outstanding shares from 21,151,290 to 20,692,917, a 2.17% decrease, boosting earnings per share and existing shareholder ownership.
The cancellation does not reduce stated capital and represents approximately 2 billion KRW in book value.
[AI Summary]CHUNGDAMGLOBAL strengthens shareholder return by canceling 2.17% of outstanding shares through existing treasury stock. This capital efficiency move should positively impact stock valuation.