Oseong Advanced Materials Decides to Acquire 5 Billion KRW Worth of Treasury Shares... "Plan to Cancel After Acquisition Completion"

Oseong Advanced Materials announced on the 10th through a public disclosure that it has signed a trust contract for the acquisition of treasury shares worth 5 billion KRW.

The company plans to cancel the treasury shares after the acquisition is completed. A company representative stated, "We initially prepared for dividends, but due to rapid market fluctuations, we chose the best option to boost the stock price," and added, "The company will further consider measures to enhance shareholder value, such as the largest shareholder's on-market purchases and the cancellation of previously acquired treasury shares."

Oseong Advanced Materials achieved record-high performance through the third quarter of this year. The company also explained that visible results are expected in the fourth quarter.

Meanwhile, the company has been steadily purchasing its own shares since 2020 and also canceled shares acquired at the end of 2022.