Hansomeon Decides to Cancel Treasury Shares... Hyundai Department Store Group "Enhancing Shareholder Value"

Hansome, a fashion specialist company affiliated with Hyundai Department Store Group, has decided to cancel its treasury shares. This move is aimed at enhancing shareholder value as Hyundai Department Store Group prepares to transition to a single holding company system. The holding company, Hyundai G.F. Holdings, is also scheduled to cancel treasury shares next month.

Hansome announced on the 6th through a public disclosure that it plans to repurchase 492,600 treasury shares on the market by February 2 next year and then cancel them along with the existing 738,900 shares it holds within the same month. The total canceled shares will amount to 1,231,500, which is about 5% of the total issued shares. Canceling treasury shares reduces the number of circulating shares, thereby increasing the value of the shares held by shareholders.

A Hansome representative stated, "Although financial market uncertainties persist, we have decided to additionally repurchase and cancel treasury shares to enhance corporate and shareholder value," adding, "We will continue to pursue various additional shareholder return policies."

Earlier, Hyundai G.F. Holdings, the holding company of Hyundai Department Store Group, decided in September to cancel 6,495,431 treasury shares. After a resolution at the extraordinary general meeting of shareholders on the 8th, the cancellation is scheduled for the 12th of next month. This corresponds to 4% of the total issued shares.

Hyundai Department Store Group is also strengthening communication with the market. In September, 13 listed companies within Hyundai Department Store Group, including Hyundai Department Store, Hyundai Home Shopping, and Hyundai Green Food, held an integrated IR (Investor Relations) event called 'Corporate Day.' At the event, each listed company explained their second-half business conditions and performance, mid- to long-term growth strategies, and shareholder return plans to institutional investors. Since early this year, Hyundai Department Store Group has established and operated a 'Group Value Enhancement Committee' composed of financial officers from listed companies.

A Hyundai Department Store Group official said, "We will actively share investment information, management strategies, and shareholder return plans of each listed company within the group with the market and work to raise the undervalued corporate value of each company," adding, "We also plan to hold integrated investor relations meetings regularly every year."

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