Di Dong Il Corp: Share Cancellation of 15% of Outstanding Shares
On 14 November, Di Dong Il Corp (001530 KS) announced that it plans to cancel 3.78 million treasury shares (representing 15% of outstanding shares) on 29 November.
The company currently has 5.84 million outstanding shares. Thus, the share cancellation of 3.78 million shares represent 65% of its treasury shares.
The company is facing an investigation due to suspicions that it conducted a loan transaction with its largest shareholder, the Jung-Hun Foundation, without board approval.
