[Public Notice+] Myungseong TNS Decides to Buy Back 2 Billion KRW Worth of Treasury Shares... "Considering Additional Purchases"

[Asia Economy Reporter Yoo Hyun-seok] Myungseong TNS announced on the 19th that it will acquire treasury shares worth approximately 2 billion KRW on the market. The acquisition period is from the 20th to April 3rd, accounting for about 3.65% of the total issued shares.

A company official explained, "To enhance shareholder value, we are purchasing treasury shares for the first time since listing," adding, "Due to the significant decline in the stock market caused by the impact of the novel coronavirus infection (COVID-19), we decided to stabilize the stock price."

He continued, "Since regulations on treasury share purchases have been relaxed, we are also considering additional acquisitions," and added, "Considering the special circumstances of the current stock market situation, we plan to actively stabilize the stock price."

Meanwhile, the Financial Services Commission took measures on the 13th to temporarily remove the daily limit on treasury share purchases and relaxed conditions that previously allowed purchases only within the limit of distributable profits.

Myungseong TNS is a specialized company in secondary battery manufacturing equipment and is currently promoting next-generation secondary battery business using microfiber metal fiber called 'Metal Fiber.'

This content was produced with the assistance of AI translation services.