Game development and service firm Game (CEO Won Leeching) announced on the 26th that it has decided to sign a 3 billion won treasury stock trust agreement for the purpose of stabilizing stock prices and the value of shareholders.
The purchase of treasury stocks was decided within the 2021 separate financial statement of dividend. The treasury stock acquisition is carried out through a trust agreement with a securities firm, and the contract period is six months from today to March 26, 2023. Contracting agencies are DB Financial Investment.
The number of treasury shares worth 3 billion won that the company will acquire through the trust contract is about 498,339 shares based on the closing price of the board of directors (23 days), and 2.55% of the total number of shares issued.
EM Game Won Leeching said, I think that the most important thing is to improve shareholder value with the company’s continuous growth, he said. We will strive to stabilize stock prices and protect shareholder value.
In the second quarter of this year, Game’s consolidated sales and operating profit rose to 12.4%and 20.9%YoY, respectively. This is due to the growing growth of China’s Old-Blood Online, despite the low season, and sales continued to rise compared to last year.
On the other hand, Game plans to introduce various new lineups such as mobile games and blockchain games from 4Q.