Food company Orion is taking proactive steps to enhance shareholder value through the cancellation of treasury shares.

According to Orion on the 16th, the company announced via a regulatory filing that it has decided to cancel 7,344 common shares held as treasury stock. This cancellation does not include any preferred shares. The total value of the shares to be canceled amounts to approximately 982 million won, and the actual cancellation is scheduled to take place on the 23rd.

The cancellation of treasury shares is one of the representative shareholder return policies, as it reduces the number of outstanding shares and is expected to increase per-share value. In the market, share cancellations are often interpreted as a positive signal, not only leading to an improvement in earnings per share (EPS) but also demonstrating a company's commitment to shareholder-friendly management.

Although the scale of this cancellation does not account for a significant proportion of the total issued shares, it is drawing attention from investors as part of the company's continuous shareholder return efforts.

Meanwhile, as of 1:15 p.m. on the same day, Orion's stock price is trading at 133,200 won, down 600 won (0.45%) from the previous trading day. Despite the positive news of the treasury share cancellation, the intraday stock price showed a slight decline as profit-taking sell orders emerged.