REG - KT Corporation - Disposal of Treasury Stock

Mon Mar 19, 2012 8:59am EDT

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RNS Number : 6192Z
KT Corporation
19 March 2012
 



Disposal of Treasury Stock

 

A. Total number of shares to be disposed

   1. Common stock: 361,353 shares (0.14% of total issued shares)

 

B. Estimated aggregate disposal amount

   1. Common stock: KRW 11,545,228,350

* The aggregate disposal amount is alterable depending on the share price.

 

C. Price of shares to be disposed: KRW 31,950 (Assuming the closing price as of the day before board resolution date)

 

D. Date of board resolution: March 16, 2012

 

E. Disposal period

   1. Beginning period: March 20, 2012

   2. Ending period: May 15, 2012  

 

F. Purpose of disposal: Mandatory disposal after acquiring treasury shares from shareholders who had exercised appraisal rights in opposition during the merger with ktf in June 2009

 * Commercial Code and FISCMA (Financial investment Service and Capital Market Act) state that purchased shares should be disposed within three years from the acquisition date.

 

G. Method of disposal: disposed to the market

 

H. Details of treasury stock before/after disposal

Type of stock

Before disposal

After disposal

No. of shares

Ratio (%)

No. of shares

Ratio (%)

Common stock

17,810,562

6.82

17,449,209

6.68

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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