In today’s briefing:
- Confirmation of Cancellation of Treasury Shares To Be Made Into Law by End of 2025 and a Loophole?
Confirmation of Cancellation of Treasury Shares To Be Made Into Law by End of 2025 and a Loophole?
- On 25 November, the Democratic Party of Korea confirmed that the cancellation of treasury shares will be made into law by the end of 2025.
- Companies that buyback their shares (as treasury shares) will be required to cancel them within one year of the buyback.
- There may be a LOOPHOLE if the company fails to cancel the treasury shares on time. Fine per director is only 50 million won and this may be too low.
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