Korea Zinc plans to burn all of its 2.04 million treasury shares, acquired through a public tender offer in October last year, within 2021. The shares, worth 1.8 trillion won, were initially acquired to stabilize stock prices, enhance corporate value, protect shareholder rights, and for employee evaluation and compensation. The decision to burn the shares was made at a board meeting on 13th March, and the process will be completed after converting discretionary reserves into unappropriated retained earnings, following the approval of the financial statements at the general meeting on 28th March.
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Auto-posted at: 2025-03-20 21:01:16