Resolution on Acquisition of Treasury Stock

Hyundai Motor Company

27 November 2024

 

HYUNDAI MOTOR COMPANY (HMC)

Corporate Disclosure to Korea Exchange

Disclosure title   :            Resolution on Acquisition of Treasury Stock

1. Number of shares to be acquired          

Type of Shares	Number of Shares
Common	3,906,545
Preferred	759,323

2. Expected acquisition amount   

Type of Shares	Acquisition Amount (in KRW)
Common	873,112,807,500
Preferred	126,887,231,000

3. Expected period of acquisition :            November 28, 2024 ~ February 27, 2025

4. Expected period of holding      :            -

5. Purpose of acquisition              :            Enhancement of Shareholder Value, etc.

6. Method of acquisition              :            Market purchase

7. Security firm commissioned     :            Hyundai Motor Securities

8. Treasury stock holdings at the time of disclosure (prior to acquisition)

Type of shares	Number of shares	% of total shares issued
Common	3,506,065	1.7%
Preferred	2,962,756	4.8%

9. Date of board decision                           :            November 27, 2024

* 7 independent directors were present for the board decision.

10. Order limit per day                 :            390,654 common shares

                                                                   43,786 preferred shares

11. Notes

(No.1) Preferred shares include 292,308 shares of preferred share, 437,867 shares of second

preferred share, and 29,148 shares of third preferred shares.

The number of shares to be acquired is based on closing price of a day prior to the resolution.

(KRW 223,500 for common share, KRW 162,900 for preferred share, KRW 170,200

for second preferred share and KRW 162,800 for third preferred share on November 26, 2024)

(No.2) Treasury stock will be acquired based on the 'expected acquisition amount' and

the number of shares to be acquired and the acquisition amount may change depending on

stock price.

(No.4 & 5) Treasury stock will be acquired according to the resolution of the board meeting

held on November 27, 2024, and around KRW 700 billion of acquisition amount is to enhance

shareholder value and the remaining is for employee compensation, etc (Total amount is KRW
1 trillion). The timing for utilization of treasury stock will be disclosed once it is decided at the

board meeting.

(No.8) Preferred shares prior to acquisition are the sum of 1,945,862 shares of preferred share,

992,364 shares of second preferred share and 24,530 shares of third preferred share. 

(No.9) Audit committee consists of only independent directors.

(No.10) Order limit per day for preferred shares is based on second preferred share.

(Order limit per day for preferred share is 29,230, for third preferred share is 3,025.)

 

END