Lotte Wellfood to Reappoint Shin Dongbin as Internal Director...100,000 Treasury Shares to Be Cancelled

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Lotte Wellfood announced through a regulatory filing on the 4th that Chairman Shin Dongbin of Lotte will be reappointed as an internal director at the regular general shareholders' meeting scheduled for the 20th.

Lotte Wellfood also plans to newly appoint Vice President Seo Jeongho and Head of Financial Strategy Min Junwoong as internal directors.

Additionally, Lotte Wellfood has decided to cancel 100,000 shares of its treasury stock.

The par value per share is 500 won, and after the cancellation, the capital stock will decrease from 4,652,287,000 won to 4,602,287,000 won. The number of issued shares, based on common stock, will decrease from 9,304,574 shares to 9,204,574 shares.

Lotte Wellfood explained, "Of the 336,402 treasury shares acquired during the merger process between Lotte Confectionery and Lotte Food in July 2022, 130,000 shares were cancelled last year to enhance shareholder value, and of the remaining 206,402 shares, 100,000 shares will be voluntarily and gratuitously cancelled. There will be no changes for shares held by general shareholders."

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