LG Uplus said Wednesday it will cancel all about 5.4 million treasury shares it bought last year, as it moves to accelerate its “value-up plan” aimed at boosting shareholder value.
In a regulatory filing, the company said it will cancel treasury stock worth about 80 billion won in book value on May 15. The cancellation covers all roughly 5.4 million shares acquired since last year, equal to 1.26% of total shares outstanding.
LG Uplus previously canceled about 6.78 million shares, worth about 100 billion won in book value, on Aug. 5 last year.
The company announced its value-up plan in November 2024, outlining mid- to long-term financial targets, steps to reach them and shareholder return policies.
“This treasury share cancellation is part of our value-up plan to enhance shareholder value and strengthen investor trust,” a company official said. “Following last year, we are canceling previously acquired treasury shares again this year and carrying out our shareholder return policy without disruption.”
* This article has been translated by AI.
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