Ecomarketing Decides to Cancel 585,000 Treasury Shares Worth 14.37 Billion Won
[Asia Economy Reporter Lee Jung-yoon] Eco Marketing announced on the 8th that it has decided to cancel 585,000 treasury shares to enhance shareholder value. The cancellation amount is approximately 14,373,420,000 KRW.
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The company stated, "The cancellation of treasury shares acquired within the scope of distributable profits by resolution of the board of directors will only reduce the number of shares and will not decrease the capital stock," adding, "By canceling 1.79% of the total issued shares, the total number of issued shares will decrease from 32,733,029 shares to 32,148,029 shares."
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