Lotte Wellfood said in a filing on the 4th that it will hold a regular shareholders meeting on the 20th and plans to reappoint Lotte Chairman Shin Dong-bin as an inside director.
Lotte Wellfood also plans to newly appoint Lotte Wellfood Executive Vice President Seo Jeong-ho and Finance Strategy Head Min Jun-ung as inside directors.
Lotte Wellfood also said it decided to cancel 100,000 of its treasury shares. The par value per share is 500 won. After the cancellation, capital will decrease from 4.652287 billion won to 4.60287 billion won.
The number of shares outstanding will decrease from 9,304,574 to 9,204,574 common shares.
Lotte Wellfood explained, "Of the 336,402 treasury shares acquired during the merger of Lotte Confectionery and Lotte Foods in July 2022, we canceled 130,000 shares last year to enhance shareholder value, and we plan to voluntarily and gratuitously cancel 100,000 shares, a portion of the remaining 206,402 shares," adding, "There is no change to the shares held by general shareholders."