Orion Holdings and Orion have decided to incinerate all of their treasury shares.
On June 16, the Financial Supervisory Service's electronic disclosure system reported that both companies held board meetings on the same day and voted to proceed with the incineration of their entire treasury stock.
This decision is part of a plan announced in March to enhance corporate value and is seen as a measure to strengthen shareholder returns in line with the revised Commercial Act.
The shares to be incinerated include 2,488,770 treasury shares held by Orion Holdings, which represents 3.97% of the total issued shares. Orion will incinerate 7,344 shares (0.02%). Based on the previous day's closing prices, the incineration amounts to approximately 66.5 billion won for Orion Holdings and about 1 billion won for Orion. The incineration is scheduled for June 23.
An Orion official stated, "Following the expansion of dividends this year, we are continuously strengthening our shareholder return policy by deciding to incinerate treasury shares. We plan to establish a virtuous cycle where the results of growth lead to increased shareholder value."
* This article has been translated by AI.
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