LG Electronics Decides on Capital Reduction by Retiring Treasury Shares

To Be Submitted to Next Month's Regular General Meeting of Shareholders
Treasury Shares from the Merger with LG Information & Communications

LG Electronics announced on February 12 that its board has decided to reduce capital by retiring all of its treasury shares. The relevant agenda item will be submitted to the regular general meeting of shareholders scheduled for March 23.

On this day, LG Electronics held a board meeting and resolved to reduce capital by canceling 1,749 common shares and 4,693 preferred shares. The par value per share is 5,000 won, and after the capital reduction, the company’s capital will decrease slightly from 904,169.03 million won to 904,136.82 million won. The number of issued shares will be reduced from 162,886,387 common shares and 17,185,992 preferred shares to 162,884,638 common shares and 17,181,299 preferred shares.

LG Twin Towers, Yeouido, Seoul. Yonhap News.

The shares subject to retirement are treasury shares acquired through the merger with the former LG Information & Communications in 2000 and the temporary corporate split that occurred in connection with the transition to a holding company structure in 2002. LG Electronics plans to retire all of these treasury shares after obtaining approval at the general meeting of shareholders to be held on March 23.

Previously, in July last year, LG Electronics retired all 761,427 treasury shares it had acquired within the range of distributable profits, and last month it also disclosed an additional treasury share purchase program worth 100 billion won.

LG Electronics explained, "We plan to retire only the treasury shares held by the company free of charge, so there will be no change in the number of shares held by ordinary shareholders, and there will be no procedures for submitting old share certificates or issuing new ones."

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