[Asia Economy Reporter Jang Hyowon] Studio Santa Claus announced on the 22nd that it will carry out a 500% stock dividend by allocating 5 new shares for every 1 existing share to activate stock trading and enhance shareholder value.
The record date for new share allocation is December 16, and the expected listing date of the new shares is January 9, 2023.
The new shares issued through this stock dividend amount to 23,221,045 shares. After the completion of the capital increase, Studio Santa Claus's total issued shares will increase from the existing 10,324,760 shares to 61,901,400 shares. Treasury stock of 9,432 shares does not have rights to new shares and is not included in the capital increase.
Also, by allocating at a ratio of 1 new share per 1 existing share, no fractional shares will be issued.
A representative of Studio Santa Claus stated, “This stock dividend was decided to realize activation of stock trading and enhancement of shareholder value through expanding the number of issued shares,” and added, “We will make every effort to operate the company stably by pursuing new business initiatives aimed at discovering new content and creating stable revenue sources, which the company strives for.”
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