Daishin Information & Communication Terminates Trust Contract After Acquiring 1.985M Treasury Shares for Future Cancellation
Daishin Information & Communication's board resolved on July 20 to terminate the treasury stock acquisition trust contract signed on June 8, 2026, due to completion of the acquisition.
The termination results in the acquisition of 1,985,000 common shares representing 5.16% of outstanding shares valued at approximately 19.85 billion KRW, which will be deposited into the company's securities account.
The company plans to cancel these treasury shares after completing a reverse stock split, with specific cancellation details to be determined and disclosed through a future board resolution.
[AI Summary]Daishin Information & Communication completed the acquisition of 1,985,000 treasury shares 5.16% of total outstanding and terminated the trust contract. The planned cancellation is expected to enhance per-share value. This shareholder return policy through share buybacks is likely to positively impact the stock price.
KOSDAQ Filing Information
Report on Major Matters (Decision on Termination of Trust Agreement for Acquisition of Treasury Shares)
Company: Daishin Information & Communication (020180)