Korea Package Decides to Cancel 500,000 Treasury Shares

[Asia Economy Reporter Hwang Junho] Liquid packaging container manufacturer Hankook Packaging decided on the 4th to cancel treasury shares to enhance shareholder value.

The shares scheduled for cancellation by Hankook Packaging are 502,468 common shares, accounting for approximately 1.66% of the total issued shares. Based on the closing price of 3,860 KRW on the 3rd, this amounts to about 1.94 billion KRW.

This treasury share cancellation is a capital reduction matter and will proceed after a special resolution at the regular shareholders' meeting scheduled for the 31st. As a result, the capital, which was previously 15.2 billion KRW, will decrease to 14.9 billion KRW after the reduction.