Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Jusung Engineering decided to cancel 980,891 treasury shares (valued at approximately KRW 37.07B) on July 18, 2024, to enhance shareholder value.
📊 [Key Disclosure Contents & Major Financial Figures]
- Shares Cancellation Details
- Type and Number of Shares to be Canceled: 980,891 common shares (2.03% of total issued shares)
- Estimated Cancellation Amount: KRW 37,077,679,800 (calculated based on the closing price of KRW 37,800 on July 3, 2024, the day prior to the Board resolution)
- Scheduled Cancellation Date: 2024-07-18
- Purpose of Cancellation: Enhancement of shareholder value
- Cancellation Method & Changes in Share Count
- Acquisition Method: Cancellation of previously acquired treasury shares (replaces a separate treasury share disposal disclosure)
- Change in Total Issued Shares: Reduced from 48,249,212 shares to 47,268,321 shares
- Change in Capital Stock: Conducted under the proviso of Article 343, Paragraph 1 of the Commercial Act (cancellation using distributable profits), which reduces the total number of issued shares without decreasing the capital stock (par value per share: KRW 500)
- Other Details
- Board Resolution Date: 2024-07-04 (All 3 outside directors and the auditor attended)
- Entrusted Investment Broker: CAPE Investment & Securities
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Total Issued Share Reduction Post Treasury Share Cancellation
While this treasury share cancellation uses distributable profits and does not alter capital stock, it reduces the total issued common shares from 48.24M to 47.26M, enhancing per-share value for existing shareholders. Verifying whether the cancellation process is completed as scheduled after the planned date is important for evaluating the execution of the company’s shareholder return policy. Follow-up details on the updated share count can be confirmed in the ‘Total Number of Shares’ section of future Quarterly, Semi-Annual, or Annual Reports.
📢 Disclaimer & Source Information
Source: This content was newly structured and written based on official filing data from the Financial Supervisory Service (DART).
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