LS Withdraws Essex Solutions Listing Application... Plans to Cancel 500,000 Treasury Shares Next Month

Dividend to Increase by Over 40% This Year Compared to Last Year
PBR to More Than Double by 2030

On January 26, LS decided to withdraw the listing application for Essex Solutions, which is currently under preliminary review by the Korea Exchange.

LS stated that it made this decision after listening to concerns raised by minority shareholders, investors, and other internal and external stakeholders regarding the push for listing, in order to enhance shareholder protection and trust.

Accordingly, LS will re-examine new investment options with financial investors (FIs) who participated in the pre-IPO equity investment in Essex Solutions prior to the listing.

In addition, following the cancellation of 500,000 treasury shares in August last year, LS plans to cancel an additional 500,000 treasury shares in February this year. Considering LS's recent share price, this amounts to approximately 200 billion won in total.

Furthermore, through a board resolution in February, LS plans to significantly increase shareholder dividends by more than 40% compared to the previous year and, at the same time, more than double the price-to-book ratio (PBR), which represents the value per share, by 2030, thereby implementing substantial shareholder protection and returns.

LS also plans to announce additional mid- to long-term value enhancement (corporate value improvement) policies in the future, and actively communicate with shareholders, institutions, analysts, and the media to reflect shareholders' voices in corporate policy.

Meanwhile, LS Group plans to invest approximately 7 trillion won over the next five years in national power grid projects, including the government-led energy superhighway, as well as in the secondary battery materials sector, which is a national advanced strategic industry.