SNT Dynamics has decided to cancel treasury shares amounting to about 25% of its issued shares. The company announced through a regulatory filing on the 29th that its board resolved to cancel self-held shares worth approximately 248.3 billion won. As a result, the total number of issued shares will decrease significantly, and the Korea Exchange halted trading of the shares for 30 minutes that morning.

Cancellation covers 8,334,579 common shares… equivalent to 25.06% of issued shares

The shares to be cancelled are 8,334,579 common shares among the treasury shares the company has already acquired and holds. The scheduled cancellation amount is 248,370,454,200 won, calculated based on the closing price on the business day prior to the board resolution date.

The shares subject to cancellation account for about 25.06% of the total 33,252,697 issued shares outstanding before cancellation. Once the cancellation is completed, the total number of issued shares is expected to fall to 24,918,118.

Under Article 343, Paragraph 1 of the Commercial Act, the company decided to cancel its held treasury shares through a board resolution. Therefore, the total number of issued shares will decrease, but the capital will not.

Cancellation scheduled for October 13… date subject to change depending on administrative procedures

The scheduled cancellation date is October 13. However, the company stated that the date may change depending on the progress of administrative procedures.

Korea Exchange halts trading for 30 minutes

The Korea Exchange announced that it would suspend trading of SNT Dynamics shares from 10:28 a.m. to 10:58 a.m., citing the cancellation of 10% or more of shares as the reason. The halt is based on Article 40 of the KOSPI Market Disclosure Regulations.