LG Uplus announced on the 21st that it will extinguish approximately 100 billion won of its treasury shares and purchase an additional 80 billion won worth of shares on the 5th of next month to enhance its corporate value.
It plans to extinguish all 6,783,006 treasury shares purchased in 2021, which is 1.55% of the total number of issued shares.
The additional treasury shares being purchased for approximately 80 billion won are estimated to be about 5,336,891 shares at the price of 14,990 won as of the 18th (the previous day's closing price), which is 1.22% of the total number of issued shares before the extinction. The purchase will be conducted through partitioning starting from August 4 within one year.
LG Uplus previously disclosed its plan to enhance corporate value, called the 'Value Up Plan,' which includes mid- to long-term financial goals, methods of achievement, and shareholder return plans, in November last year.
Additionally, LG Uplus stated that it will distribute dividends of 250 won per share as an interim dividend in 2025, the same as last year. The record date for the interim dividend is August 5, with payments to shareholders scheduled for August 20.