SEC Form 6-K filed by KB Financial Group Inc

 

 

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 October 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 to Enter into a Trust Agreement for the Acquisition of Treasury Shares

On October 24, 2024, the board of directors of KB Financial Group Inc. (“KB Financial Group”) resolved to enter into a trust agreement with Samsung Securities Co., Ltd. to acquire treasury shares within the profits available for dividends. The details are as follows:

 

Total Contract Amount				KRW 100,000,000,000
Contract Period		From		November 1, 2024
		To		April 30, 2025
Purpose of Acquisition				To increase shareholder return and corporate value
Contracting Party				Samsung Securities Co., Ltd.
Expected Date of Agreement				November 1, 2024
Number of Treasury Shares owned as of October 24, 2024				18,362,733 shares (4.67%)
Date of Resolution by the Board of Directors				October 24, 2024

Limitation on the acquisition amount of treasury shares as of October 24, 2024: 

 

 

		(Unit: KRW)
Items		Amount
1. Upper limit of profits available for dividends as of the end of the previous fiscal year in accordance with the Korean Commercial Code			3,042,178,048,322
2. Amount of treasury shares acquired since the end of the previous fiscal year			719,999,980,300
3. Dividends and related earnings surplus reserves resolved at the annual general shareholders’ meeting held after the end of the previous fiscal year			587,005,652,250
4. Quarterly/interim dividends and related earnings surplus reserves resolved at the meeting of the board of directors after the end of the previous fiscal year			899,972,473,140
5. Contract amount for the trust agreement			-
6. Acquisition cost of the treasury shares if disposed after the end of the previous fiscal year (based on the moving average method applied to the acquisition cost)			-
Limitation on the acquisition amount of treasury shares (1-2-3-4-5+6)			835,199,942,632

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: October 24, 2024				By:		/s/ Jae Kwan Kim
				(Signature)
				Name: Jae Kwan Kim
				Title: Senior Executive Vice President and Chief Finance Officer