Ocean in the W Cancels 621,015 Treasury Shares... Strengthening Shareholder Return Policy

Ocean in the W announced on the 17th that it has decided to cancel all 621,015 treasury shares currently held by the company.

This cancellation accounts for approximately 3.68% of the total 16,865,143 shares issued. The total value of the shares to be cancelled is about 2.3 billion won.

Ocean in the W stated that, with the reduction in the number of shares issued, its shareholder return policy will be strengthened, and it expects improvements in per-share value and key financial indicators. The company also explained that the value of existing shareholders' stakes is likely to increase.

A representative from Ocean in the W said, "As part of our policy to enhance shareholder value, we have decided to cancel all treasury shares we hold," adding, "We will continue our efforts to increase corporate value through a variety of shareholder return policies in the future."

Meanwhile, Ocean in the W will also implement a stock split and a free capital reduction to maintain an appropriate number of shares issued and improve its financial structure. The company will split the par value of its common shares from 5,000 won to 500 won, thereby increasing the number of shares issued from 16,244,128 to 162,441,280, and then conduct a 10-to-1 free capital reduction. As a result, the number of shares issued will be reduced again to 16,244,128, and the capital will decrease from 84,325,715,000 won to 8,432,571,500 won.

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