Lock&Lock Decides to Cancel Treasury Shares Worth 14 Billion KRW

[Asia Economy Reporter Geum Bo-ryeong] Lock&Lock announced on the 11th that it has decided to cancel 1,178,962 common shares. The amount to be canceled is approximately 14 billion KRW.

Lock&Lock stated, "In accordance with Article 343, Paragraph 1 of the Commercial Act, we will cancel treasury shares," and explained, "The treasury shares acquired within the scope of distributable profits will be canceled by a resolution of the board of directors, resulting only in a reduction in the number of shares without a decrease in capital stock."