APR to Retire 30 Billion KRW in Treasury Shares to Enhance Shareholder Value

1.61% of Issued Shares to Be Retired on the 7th

APR will retire 30 billion KRW worth of treasury shares to enhance shareholder value.

On August 4, APR announced that it will retire all 613,400 treasury shares it holds. This represents 1.61% of the total number of issued shares. The average acquisition price per common share was 48,911 KRW, making the total value 30 billion KRW.

Previously, on February 4, APR entered into a trust contract for the acquisition of treasury shares, as disclosed, and selected NH Investment & Securities as the trust institution to acquire these shares. The scheduled retirement date is August 7.

Expressing its commitment to responsible management, APR decided to acquire 30 billion KRW worth of treasury shares in February and an additional 60 billion KRW in June.

When the acquired treasury shares are retired, the total number of issued shares decreases, resulting in an increase in earnings per share (EPS) and book value per share (BPS). This benefits existing shareholders. However, in the Korean market, major shareholders have typically used treasury shares for management control rather than retiring them.

An APR official stated, "This retirement of treasury shares is the second active shareholder return policy implemented this year, following the one earlier in the year," and added, "We will continue to prove the company's value through steady growth and efforts to maximize shareholder value."