Celltrion said it will expand its planned cancellation of treasury shares to about 9.11 million shares and filed a disclosure on the 6th revising the agenda for its regular shareholders meeting. Based on the previous day’s closing price, the amount totals about 1.9268 trillion won.
In the agenda previously disclosed for its 35th regular shareholders meeting, Celltrion had proposed canceling about 6.11 million shares under an item titled approval of a plan to hold and dispose of treasury shares and to cancel them, excluding shares held to compensate stock options.
The excluded treasury shares totaled about 3 million shares and were to be kept to deliver stock options already granted to some employees.
In the latest filing, Celltrion said it will also cancel those stock option-related shares, bringing the total to about 9.11 million shares, and will submit the revised item for approval.
The company said, “Employee stock option compensation will be managed through future issuance of new shares, but because the cancellation will occur first and the new issuance afterward, there is no impact on the total number of issued shares.”
The planned cancellation equals about 74% of all treasury shares held by Celltrion. The remaining 26%, or about 3.23 million shares, will be used to secure future growth drivers, the company said.
* This article has been translated by AI.
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