Source: VALOFE

Global game publishing platform company VALOFE (CEO Shin Jae-myung) announced on the 29th that it will begin implementing its shareholder return policy by canceling all treasury shares acquired last May.

Through a board resolution, VALOFE decided to cancel its entire holding of approximately 1.2 million treasury shares (valued at ₩1 billion). The cancellation is scheduled for the 10th of next month, which will bring the total number of issued shares to 9801186.

This cancellation is a continuation of the treasury share acquisition plan announced in May. At that time, VALOFE stated it had signed a ₩1 billion trust agreement with NH Investment & Securities to acquire treasury shares and would cancel the entire amount.

VALOFE has recently been strengthening its investor relations (IR) activities and expanding communication with the market, while continuously implementing various shareholder-friendly policies to ensure its corporate value is appropriately assessed in the capital market.

VALOFE CEO Shin Jae-myung stated, "This share cancellation is a fulfillment of the promise we made to the market and our shareholders when we first decided to acquire the treasury shares," adding, "We will continue to review various shareholder return policies to enhance shareholder value."

He added, "In the second half of this year, VALOFE is preparing for the official launch of the next installment of our IP 'Kritika' in Korea and the Greater China region, as well as the development of 'Last Origin 2.' Our publishing lineup for the third and fourth quarters is also well-prepared. With contracts pending with leading companies in Japan and China, we plan to focus on generating major business results while simultaneously working to enhance corporate value through IP and company acquisitions for business diversification."