Hyundai Mobis Decides to Cancel 220,000 Treasury Shares

[Asia Economy Reporter Lee Seon-ae] Hyundai Mobis announced on the 28th that it has decided to cancel 220,000 shares of its treasury stock worth 54 billion KRW.

This accounts for approximately 0.23% of the total outstanding common shares (94,793,094 shares). The scheduled cancellation date is the 1st of next month.

Hyundai Mobis explained, "The treasury shares acquired within the scope of distributable profits will be canceled by a resolution of the board of directors," adding, "Only the number of shares will decrease, and there will be no reduction in capital stock."