APR to Cancel Treasury Shares Worth KRW 30 Billion... "Shareholder Value Comes First"

613,400 Treasury Shares to Be Fully Canceled on August 7
Represents 1.61% of Total Issued Shares, Aimed at Maximizing Shareholder Value

On August 4, APR announced through a regulatory filing that it has decided to cancel all of its 613,400 treasury shares.

The volume of treasury shares to be canceled represents 1.61% of APR's total issued shares. Based on the average acquisition price of KRW 48,911 per common share, the total value of the shares to be canceled amounts to approximately KRW 30 billion. The shares were acquired by appointing NH Investment & Securities as the trustee, in accordance with the treasury stock acquisition trust agreement disclosed on February 4.

Following the cancellation, APR's total number of issued shares will decrease from 38,044,055 to 37,430,655. The scheduled cancellation date is August 7.

According to APR, this decision to cancel treasury shares is part of its shareholder value maximization policy under the "2024-2026 Shareholder Return Policy" announced last year. APR has stated that during the three disclosed years, it will carry out share buybacks and cancellations, including cash dividends, with the scale reaching at least 25% of the consolidated adjusted net income each year. APR's shareholder return rate for 2024 currently stands at 55.7%.

APR began its treasury share buyback in May 2024, when its management expressed a commitment to responsible management. In June of the same year, the company decided to acquire an additional KRW 60 billion worth of treasury shares. In February this year, APR acquired treasury shares worth KRW 30 billion. The treasury shares acquired in June 2023 were fully canceled in January this year. The cancellation of treasury shares leads to a reduction in the total number of issued shares, which can result in an increase in earnings per share (EPS) and book value per share (BPS), thereby enhancing the actual value of shares held by shareholders.

APR plans to continue a variety of shareholder value enhancement activities, along with proactive communication to provide accurate information. An APR representative stated, "This cancellation of treasury shares is the second active shareholder return policy implemented this year," adding, "We will continue our efforts to maximize shareholder value and demonstrate the value of our company through consistent growth."

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