APR announced on the 4th that it will burn all 613,400 shares of its treasury stock.
The amount of treasury shares being burned this time corresponds to 1.61% of the total number of issued shares, with a total value of 30 billion won based on an average purchase price of 48,911 won per common share. Once the burn occurs on the 7th, the total number of issued shares for APR will decrease from the current 38,044,055 shares to 37,436,55 shares.
This decision to burn treasury stock is part of the '2024-2026 shareholder return policy' announced last year. APR noted that during the three years specified in the announcement, it will conduct treasury stock buybacks and burns, including cash dividends each year, with the scale expected to reach over 25% of consolidated net income.
APR stated, "In the future, we plan to continue active communication for the provision of correct information as well as various activities to enhance shareholder value," adding, "We will prove the value of the company through continuous growth and efforts to maximize shareholder value in the future."