Hojun Industrial to Cancel 310,000 Treasury Shares, Continuing Efforts to Enhance Shareholder Value

Hojun Industrial, a company specializing in the production of high-performance apparel, announced that it will cancel 310,000 shares of its own treasury stock in an effort to enhance shareholder value.

On April 23, Hojun Industrial held a board meeting and decided to cancel 310,000 shares of treasury stock, officially disclosing the decision on April 24. This amount represents approximately 3.3% of the total number of issued shares. Based on the average acquisition price of ordinary treasury shares currently held by Hojun Industrial, which is 10,124 won per share, the total value is estimated to be approximately 3.1 billion won. The scheduled cancellation date is May 8.

Hojun Industrial previously cancelled about 374,000 shares of treasury stock in April last year. In September of the same year, the company decided to acquire treasury stock worth 2.5 billion won. All of the shares acquired at that time are included in the current cancellation.

A representative from Hojun Industrial stated, "We decided to cancel treasury stock again in order to continue enhancing shareholder value. Since the treasury shares were acquired using distributable profits, there will be no reduction in capital."

He added, "This year, we expect sales to Arc'teryx to more than double compared to the previous year, and sales to our new client Carhartt are also expected to begin in earnest. We plan to continue expanding our sales base while maintaining a shareholder-friendly management approach."

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