Neptune is taking steps to return value to shareholders by canceling its first batch of treasury shares since going public.
On August 13, Neptune announced that its board of directors has approved the cancellation of 1,081,286 shares from its total of 1,801,049 treasury shares. The canceled shares represent approximately 2.31% of the total issued shares.
This stock cancellation marks the beginning of Neptune's long-term policy aimed at enhancing shareholder value and strengthening corporate value. The company has also laid the groundwork for shareholder returns by transferring a total of 220 billion won in capital surplus to retained earnings from last year to this year.
In addition to the stock cancellation, Neptune is accelerating its performance improvements. The company plans to link the results of its main and new businesses to its financial performance starting in the second half of this year to enhance corporate value.
Currently, Neptune is advancing its local ad tech platform business through its Indian subsidiary and is also engaged in the development and publishing of hybrid casual mobile games.
CEO Kang Yul-bin stated, "The cancellation of treasury shares is significant as it marks the beginning of enhancing shareholder value for those who have believed in and supported Neptune. We will focus on ensuring that the results of our main and new business sectors translate into financial performance and will explore various shareholder return options."
* This article has been translated by AI.
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