AJ Networks Announces Share Repurchase to Enhance Shareholder Value
- Purchase of KRW 7 billion to stabilize stock price and enhance shareholder value
AJ Networks (095570) has decided to enter into a trust agreement to acquire treasury shares to enhance shareholder value.
Through a public announcement on the 23rd, AJ Networks announced that it has signed a trust agreement to acquire treasury shares worth 7 billion won. The contract period is six months from October 24, 2023 to April 23, 2024, and the purpose of the acquisition is to stabilize the stock price and enhance shareholder value. The planned acquisition amount is 7 billion won, or 4.3% of the previous day's market capitalization.
"The decision was made to enhance shareholder value through the acquisition of treasury shares and to show shareholders our intention to continue to grow the company in the future," said an official from AJ Networks.
Previously, in August, the company burned 1,595,366 treasury shares worth about 5.3 billion won to enhance shareholder value.