UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2024

Commission File Number: 000-53445

 

 

KB Financial Group Inc.

(Translation of registrant’s name into English)

 

 

26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul 07331, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒    Form 40-F ☐

 

 

 

Resolution for the Cancellation of Treasury Shares

On July 23, 2024, the board of directors of KB Financial Group Inc. (“KB Financial Group”) resolved to cancel certain of its shares of common stock, which KB Financial Group plans to acquire as treasury shares prior to such cancellation pursuant to the announcement on Form 6-K dated July 23, 2024. The details are as follows:

 

Type and Number of Shares to be Cancelled   

Common Shares

    4,624,277 shares
  

Other Shares

    — 

Total Number of Shares Issued

   

Common Shares

    403,511,072 shares
  

Other Shares

    — 

Par Value per Share

    KRW 5,000

Estimated Amount of Shares to be Cancelled

    KRW 400,000,000,000

Scheduled Period of Acquisition of Treasury Shares for Cancellation

    From    August 26, 2024
   To    March 4, 2025

Method of Acquisition of Shares to be Cancelled

    Purchase on the stock exchange (KRX)

Scheduled Date of Cancellation

    To be determined

Brokerage Company Appointed for the Share Acquisitions

    Samsung Securities Co., Ltd.

Date of Resolution by the Board of Directors

    July 23, 2024

Obligation to Report to the Korea Fair Trade Commission

    Not applicable
Other Material Information for an Investment Decision   

•  Legal basis for the cancellation of treasury shares: Article 343-1 of the Commercial Code of Korea.

 

•  The cancellation of these shares constitutes the cancellation of treasury shares acquired pursuant to a resolution of the board of directors within the limits of profits available for the payment of dividends, and as such, there will be no reduction in the paid-in capital of KB Financial Group.

 

•  The above “Estimated Amount of Shares to be Cancelled” has been calculated as of the date of the resolution of the board of directors, while the above “Type and Number of Shares to be Cancelled” has been calculated based on the closing price of the common shares of KB Financial Group as of July 22, 2024 (one day prior to the date of the resolution of the board of directors), which was KRW 86,500.

 

The actual number and amount of shares to be cancelled is subject to change depending on fluctuations in the share price and will be disclosed at a future date prior to the cancellation.

 

•  The starting date of the above “Scheduled Period of Acquisition of Treasury Shares for Cancellation” is the date of signing of the trust agreement, and the actual purchase period may differ from such date.

 

•  KB Financial Group plans to cancel all of the treasury shares following the completion of the acquisition of the treasury shares. For detailed information regarding the acquisition of the treasury shares, please refer to the Form 6-K titled “Resolution to Enter into a Trust Agreement for the Acquisition of Treasury Shares” of KB Financial Group furnished on July 23, 2024.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

     

KB Financial Group Inc.

      (Registrant)

 

Date: July 23, 2024      

By: /s/ Jae Kwan Kim

      (Signature)
      Name: Jae Kwan Kim
      Title: Senior Executive Vice President and Chief Finance Officer
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