TerraScience, Major Shareholder Buys Shares on Market... "Enhancing Shareholder Value"

[Asia Economy Reporter Jang Hyowon] The largest shareholder of KOSDAQ-listed company Terra Science is engaging in on-market purchases to enhance shareholder value.

Terra Science announced on the 5th that Kwon Soon-baek, a director and special related party who is the largest shareholder, purchased 350,000 shares of the company's stock on the market. It is estimated that Kwon Soon-baek has purchased a total of 1,365,700 shares of Terra Science stock on the market over the past year. This accounts for 1.7% of the total issued shares.

The company explained that the background for the largest shareholder's increase in stake is due to expectations of visible results from new business investments, as well as continuous stock purchases aimed at enhancing shareholder value and minimizing dilution of holdings caused by convertible bonds issued recently.

A Terra Science official stated, “Due to the recent continuous decline in the domestic stock market unrelated to the intrinsic value of the company, it is judged that the current corporate value is sufficiently undervalued, and the largest shareholder appears to have made additional on-market purchases of shares.”