Samsung Electronics to Cancel Entire Treasury Stock Holdings Worth 14.5806 Trillion Won

According to The Financial News, Samsung Electronics will cancel treasury shares it acquired last year worth about 14.58 trillion won.
On the 31st, Samsung Electronics announced in a regulatory filing that its board had decided to cancel 73,359,314 common shares and 13,603,461 preferred shares.
Based on the closing prices on the 30th, the day of the board meeting—176,300 won per common share and 121,100 won per preferred share—the total value of the shares to be cancelled comes to approximately 14,580,626,185,300 won. The cancellation is scheduled for February 2.
A Samsung Electronics official stated, "This cancellation concerns treasury shares acquired under board resolutions on February 18 and July 8 last year, with the aim of enhancing shareholder value."
The official added, "The treasury shares acquired within the range of distributable profits are being cancelled by a board resolution, which will reduce only the number of shares outstanding without decreasing the company’s capital."
After announcing a 10 trillion won share repurchase program in November 2024, Samsung Electronics fully cancelled the first tranche of repurchased shares worth 3 trillion won in February the following year. With this latest cancellation, all treasury shares held for cancellation purposes under the disposal plan approved at the 57th Annual General Shareholders’ Meeting will have been exhausted.
sms@fnnews.com Reporter Sung Min-seo Reporter