Exem Acquires Treasury Shares Worth 1 Billion KRW

IT integrated performance management specialist Exem announced on the 10th that it has decided to acquire treasury shares worth 1 billion KRW.

Exem held a board meeting and resolved to acquire treasury shares worth approximately 1 billion KRW to stabilize the stock price and enhance shareholder value. The number of shares to be acquired is 595,238 common shares, about 0.8% of the outstanding shares. The acquisition will be made through direct purchase on the market. The expected acquisition period is within three months.

The actual acquisition period may be shorter than three months. Since the daily purchase order limit is 110,822 shares, if acquired in the shortest period, it could be completed in as little as six days.

Generally, when a listed company acquires treasury shares, it signals to investors that the stock is undervalued and demonstrates the company's commitment to increasing shareholder value. Treasury share acquisition leads to a reduction in outstanding shares, resulting in an increase in earnings per share (EPS).

Exem explained that since many shareholders hope for the cancellation of treasury shares after acquisition, the company is also positively considering canceling the shares at an appropriate time after the acquisition process is completed.

Goh Pyeong-seok, CEO of Exem, said, "We have achieved the highest cumulative sales in the third quarter this year, and all Exem employees are working at full capacity until the end of the year to surpass last year's annual sales." He added, "To enhance shareholder value, Exem conducted a full in-kind dividend of treasury shares in the first half of this year, and now we are acquiring treasury shares. We will continue to actively implement additional shareholder-friendly policies."