Binggrae announced on the 15th that it has decided to retire its own shares worth 6.6 billion won to enhance shareholder value.
On the same day, Binggrae stated through a disclosure that it will retire 295,538 shares of common stock previously acquired by the board. This quantity represents about 3% of the total issued common shares of 9,851,241, and the planned retirement date is the 30th. The price per share is 5,000 won, which amounts to approximately 6.582 billion won based on book value.
Binggrae noted, "There will be no decrease in capital as the retirement of self-acquired shares is made by board resolution within the range of distributable income."
Earlier, on the 20th of last month at around 10 a.m., Binggrae held its 59th regular shareholders' meeting at a factory in Namyangju, Gyeonggi Province. On this day, CEO Jeon Chang-won emphasized that the company has achieved its highest sales and operating profit since its establishment and stated the commitment to establish a virtuous cycle of management where sales and revenue grow together.