PS Electronics to Cancel Treasury Shares Worth 7.14 Billion KRW... "Enhancing Shareholder Value"

PS Electronics (formerly Y-PHAM), the only domestic wireless frequency (RF) system semiconductor company, announced on July 10 that it has decided to cancel 976,562 shares of its treasury stock. This represents 2.21% of the total issued shares, with a total value of approximately 7.14 billion KRW based on the average acquisition price of 7,312 KRW per share.

This treasury stock cancellation will be carried out by reducing only the total number of issued shares without decreasing the capital. The scheduled cancellation date is July 16.

A PS Electronics representative stated, "We decided to cancel treasury stock because we believe the current share price does not fully reflect the company's intrinsic value," adding, "This measure is intended to stabilize the share price and enhance shareholder value."

PS Electronics plans to use this treasury stock cancellation as an opportunity to further strengthen its shareholder return policies and continue various efforts to enhance shareholder value.

The representative also said, "We will continue to do our best in implementing shareholder return policies and strengthen communication with shareholders to ensure the company's value is properly recognized in the market."

Meanwhile, as part of its ongoing efforts to expand its business scope and become a comprehensive semiconductor company, PS Electronics recently agreed to supply the RF Power Front-End Module (FEM), a key component for full autonomous driving, to the next-generation models of the largest electric vehicle manufacturer in North America. The FEM is installed at the front of the vehicle, processes signals from various sensors and cameras, and is a core component responsible for essential data in autonomous driving.

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