Wemade Play Cancels Treasury Shares Worth 16.9 Billion Won to Enhance Shareholder Value
About 8% of Total Issued Shares to Be Cancelled
On October 21, Wemade Play announced that its board of directors had decided to cancel 917,508 treasury shares in order to enhance shareholder value.
This represents the entire amount of treasury shares eligible for dividend payouts, out of the company’s total holdings of 1,068,801 shares. The cancellation accounts for approximately 8% of the total issued shares and is valued at 16.9 billion won based on book value.
The cancellation of the treasury shares will take place on October 28. Following this, the total number of issued shares for Wemade Play will decrease from 11,469,842 to 10,552,334. The revised number of issued shares is scheduled to be listed on November 13.
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Wemade Play CEO Woo Sangjun stated, "Along with the cancellation of treasury shares to enhance shareholder value, we also plan to focus on increasing corporate value through the development and preparation of new game lineups."
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