KONA I Decides to Cancel 320,000 Treasury Shares and Issue 50% Bonus Shares [Disclosure]

[Financial News] KONA I disclosed on the 14th that it would cancel 320,000 treasury shares and issue new shares free of charge to shareholders equivalent to 50% of their holdings.
According to the Data Analysis, Retrieval and Transfer System (DART), KONA I decided to cancel 320,000 of the 404,760 treasury shares it holds, within the permissible disposal limit.
As a result of the cancellation, the total number of shares issued will decrease from 14,563,291 to 14,243,219, while treasury shares will fall from 404,760 to 84,760. The planned cancellation amount is approximately 12.22528 billion won, and the cancellation is scheduled for the 30th of this month.
KONA I also decided that day to carry out a bonus issue allocating 0.5 new shares for each common share. The record date for the allocation is the 30th of next month, and the new shares are scheduled to be listed on November 23. A total of 7,079,265 new shares will be issued through the bonus issue.
The bonus issue will be funded with 3.53963 billion won in additional paid-in capital. Shareholders listed in the shareholder register on the record date, the 30th of next month, will receive 0.5 new shares for each share they own. Fractional shares of less than one share will be paid in cash based on the closing price on the first day of the new shares’ listing.
As of 12:22 p.m. that day, KONA I was trading at 38,700 won, up 3,600 won, or 10.29%, from the previous day.   

[email protected] Bae Han-geul Reporter