Celltrion Submits Agenda to General Meeting for Cancellation of Treasury Shares Worth About 1.4633 Trillion Won

"Doing Our Best to Enhance Transparency and Maximize Shareholder Value
Through Amendments to the Articles of Incorporation Ahead of the Commercial Act Revision"

Celltrion will submit an agenda item for the cancellation of its own shares worth approximately 1.4633 trillion won to the regular general shareholders' meeting.

Celltrion company logo. Celltrion

Celltrion announced in a disclosure on the 12th that it will convene the 35th regular general shareholders' meeting on March 24, where it plans to address agenda items including approval and cancellation of plans for holding and disposing of treasury shares, partial amendments to the articles of incorporation, appointment of directors, approval of financial statements, and a cash dividend of 750 won per share.

The core of this agenda is the plan for handling approximately 12.34 million treasury shares currently held. Of these, about 3 million shares will be retained for compensation purposes, such as employee stock options. The company explained that it intends to use treasury shares instead of issuing new shares.

Of the remaining shares, approximately 6.11 million shares, equivalent to 65%, will be cancelled. Around 3.23 million shares, or about 35%, will be used to secure future growth engines. Based on the closing price on February 11, the 6.11 million shares are valued at about 1.4633 trillion won.

If this additional cancellation is finalized, the total amount will exceed all 2.39 million shares acquired in 2024 and all 2.98 million shares acquired in 2025. After announcing its policy to cancel all shares acquired in 2025, the company has so far cancelled approximately 1.96 million shares.

Celltrion stated that it will revise its articles of incorporation and obtain approval from the general shareholders' meeting in order to clarify the legal basis for the cancellation and disposal of treasury shares. In addition, reflecting the intent of the amendment to the Commercial Act currently being promoted by the government, it will also submit agenda items to include in the articles of incorporation the independent director system, cumulative voting system, an increase in the number of outside directors elected separately, and the introduction of electronic general shareholders' meetings.

The company explained that the funds secured through the monetization of treasury shares will be used for its mid- to long-term growth strategy, including new technology development and investment in production facilities.

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