WFM Decides 5-to-1 Free Stock Consolidation for Common Shares
[Asia Economy Reporter Lee Jun-hyung] WFM announced on the 17th that it has decided to execute a capital reduction by consolidating 5 common shares with a par value of 500 won each into 1 common share with the same par value, in accordance with the rehabilitation plan approved by the Seoul Bankruptcy Court.
As a result of this capital reduction, the number of issued shares will decrease from 2,570,137 shares to 2,223,910 shares, and the capital will be reduced from approximately 1.3 billion won to about 1.1 billion won.
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The company plans to obtain approval from the rehabilitation court to cancel any fractional shares less than one share arising from the share consolidation and cancellation free of charge.
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