[Public Notice+] KTB Investment & Securities Executives Purchase 160,000 Shares of Company Stock
President Choi Seok-jong Purchases 35,000 Shares... Largest Shareholder Holding Ratio Increases to 20.31%
[Asia Economy Reporter Minwoo Lee] Choi Seok-jong, President of KTB Investment & Securities, and other key executives purchased company shares on the open market.
President Choi Seok-jong bought 35,000 shares, bringing his total to 75,000 shares, representing a 0.11% stake. Kim Hyung-nam, Standing Audit Committee Member, purchased 70,000 shares. Hwang Jun-ho, CEO of KTB Financial Group, and Kim Tae-woo, CEO of KTB Asset Management, each bought 10,000 shares. Ahn Tae-woo, Head of Management Innovation at KTB Investment & Securities (Executive Director), and Kim Jung-soo, Executive Director, also acquired 30,000 and 5,000 shares respectively.
As a result, the largest shareholder group, including Vice Chairman Lee Byung-chul, increased their stock ownership ratio from 20.10% last year to 20.31%.
This share repurchase was decided on the 6th of this month. At that time, KTB Investment & Securities' board of directors resolved to repurchase company shares worth 3 billion KRW and to pay common stock dividends. With the management participating in the share repurchase, it is expected that shareholder-friendly management will gain momentum.
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A KTB Investment & Securities official stated, "The management voluntarily participated in the share repurchase, expressing their commitment to responsible management," adding, "It is a declaration of intent to overcome the global crisis and to pursue shareholder-friendly management, including enhancing shareholder value."
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