SKT to Cancel 200 Billion KRW Worth of Treasury Shares to "Enhance Corporate and Shareholder Value"
SK Telecom held a board meeting on the 26th and decided to repurchase approximately 300 billion KRW worth of its own shares and cancel 200 billion KRW worth of shares, according to a disclosure on the 27th.
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The shares to be canceled this time are 4,291,845 common shares, which correspond to about 2% of the total issued shares based on the closing price on the 26th. The scheduled period for acquiring treasury shares for cancellation is from that day until January 26 of next year. The scheduled cancellation date is February 5 of next year.
SKT stated, "We have announced that we will review various shareholder return policies, and as part of that, we decided on this share repurchase and cancellation." They added, "This decision is aimed at enhancing corporate value and shareholder value, and SKT will continue to implement ESG (Environmental, Social, and Governance) management through advanced shareholder return policies."
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