Studio Santa Claus Decides to Merge Face Values... "For the Purpose of Enhancing Corporate Value"

[Asia Economy Reporter Jang Hyowon] Studio Santa Claus announced on the 13th through its board of directors that it has decided to consolidate the par value of its shares from 100 KRW to 500 KRW per share.

This par value consolidation will reduce the number of shares from the existing 29,453,855 shares to 5,890,771 shares upon approval of the agenda at the extraordinary general meeting scheduled for October 29. The trading suspension period due to the share consolidation is planned from November 12 to December 2.

Fractional shares less than one share resulting from the consolidation will be paid in cash based on the closing price on the first day of the new shares' listing. The new shares are scheduled to be listed on December 3.

A Studio Santa Claus official stated, "This par value consolidation is a 'share consolidation' that maintains corporate value, not a 'capital reduction' that decreases capital. It was a decision aimed at improving corporate value through an appropriate number of circulating shares and stock price stabilization. We will continue to strive to enhance shareholder value and corporate value through steady cultural content development."

Meanwhile, Studio Santa Claus recently signed a strategic MOU with Han Yeop Hoo, a Chinese listed company, to enter the NFT content business through overseas business expansion and partnership building.

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