Seojin System announced on the 3rd that, as part of a strong shareholder return policy to enhance shareholder value, it will carry out share repurchases and cancellations over the next three years.
Seojin System plans to repurchase treasury shares equivalent to more than 10% of the consolidated net profit each year from 2025 to 2027, and cancel them within three months after completing the acquisition. The first application point will be from the annual net profit of 2024, after next year's settlement.
Having disclosed a concrete plan to continuously repurchase and cancel treasury shares over three years, the company intends to continue making every effort to strengthen its shareholder return policy and build solid investor trust.
A company official explained, “The plan for share repurchase and cancellation is not simply a stock price boosting measure, but a strategy to strengthen our continuous growth and shareholder trust,” adding, “This announcement will serve as a clear expression of the company’s firm commitment to maximizing shareholder value and a signal to reinforce various shareholder-friendly policies.”
He continued, “Along with the explosive growth benefits of the ESS market and the semiconductor market’s trend of decoupling from China, our company is experiencing accelerated external growth,” and added, “Based on this, we will return the expanded profits to shareholders to strengthen shareholder rights and create a virtuous cycle of co-growth between the company and its shareholders.”
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