Nepes Decides to Acquire and Cancel 300 Million KRW Worth of Treasury Shares

[Asia Economy Reporter Minwoo Lee] Nepes announced on the 29th that it has decided to acquire 30,000 shares of redeemable convertible preferred stock worth 320 million KRW through an over-the-counter transaction.

The company stated, "Following the decision to redeem the redeemable convertible preferred stock, we plan to acquire and then cancel treasury shares," adding, "There will be no reduction in capital as the cancellation of treasury shares acquired using distributable profits will be carried out."