Hyundai Mobis Decides to Cancel 220,000 Treasury Shares
[Asia Economy Reporter Lee Seon-ae] Hyundai Mobis announced on the 28th that it has decided to cancel 220,000 shares of its treasury stock worth 54 billion KRW.
This accounts for approximately 0.23% of the total outstanding common shares (94,793,094 shares). The scheduled cancellation date is the 1st of next month.
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Hyundai Mobis explained, "The treasury shares acquired within the scope of distributable profits will be canceled by a resolution of the board of directors," adding, "Only the number of shares will decrease, and there will be no reduction in capital stock."
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