Celltrion to Cancel KRW 96.2 Billion Worth of Treasury Shares to Enhance Shareholder Value [Disclosure]

[Financial News] Celltrion will cancel approximately KRW 96.2 billion worth of treasury shares.
Celltrion announced on the 16th that it had decided to cancel 544,299 common shares. The shares to be canceled are treasury shares that the company previously acquired and held. The cancellation is scheduled for the 30th.
The number of shares to be canceled represents approximately 0.23% of the 232,617,176 shares currently issued. The estimated cancellation amount is KRW 96,235,870,000, calculated based on the accounting book value of the treasury shares as of the date of the board resolution.
Celltrion explained that because the cancellation involves treasury shares acquired within the scope of distributable profits, only the total number of issued shares will decrease, without any reduction in capital.
Celltrion said the purpose of the treasury-share cancellation is to "stabilize the share price and enhance shareholder value."

[email protected] Lim Sang-hyuk Reporter