Paradise to Cancel Approximately 540,000 Treasury Shares to Enhance Shareholder Value

Market Value of 7.2 Billion KRW
Shareholder Return Rate Rises by 9.5 Percentage Points After Share Cancellation

Paradise announced on June 4 that it will cancel approximately 540,000 shares of its own stock, worth about 7.2 billion KRW, in order to enhance shareholder value.

Paradise CI. Provided by Paradise

The number of shares to be canceled is 541,130, which is 10% of the company’s total treasury shares of approximately 5.41 million shares currently held. The market value of these shares is about 7.2 billion KRW.

This cancellation of treasury shares by Paradise is a result of the company’s actual implementation of measures to enhance corporate value, as announced in March. Previously, Paradise presented shareholder return policies aimed at sharing business performance, such as continuously increasing its dividend payout ratio and gradually canceling treasury shares, in order to enhance shareholder value.

After the cancellation of treasury shares, the shareholder return rate based on net profit attributable to controlling shareholders will rise to 26.7%, up 9.5 percentage points from 17.1% last year. A Paradise official stated, "By actually implementing measures to enhance corporate value, we aim to increase market trust, and we will share the company's profits through various shareholder return policies." The official added, "We will continue to strengthen ESG (environmental, social, and governance) management and focus on fulfilling our corporate social responsibilities."

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