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    SEC Form 6-K filed by Shinhan Financial Group Co Ltd

    4/28/25 6:12:01 AM ET
    $SHG
    Major Banks
    Finance
    Get the next $SHG alert in real time by email
    6-K 1 form-6-k-250428-1.htm 6-K 6-K

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, DC 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 April 2025

     

    Commission File Number: 001-31798

     

     

    ———————————

     

     

    SHINHAN FINANCIAL GROUP CO., LTD.

    (Translation of registrant's name into English)

     

     

    ———————————

     

     

    20, Sejong-daero 9-gil, Jung-gu, Seoul 04513, Korea
    (Address of principal executive offices)

     

     

    ———————————

     

     

    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 

     


    Termination of Trust Agreement for Acquisition of Treasury Shares

     

    Shinhan Financial Group(hereafter SFG) announced on April 28, 2025 that the trust agreement SFG had entered into on October 28, 2024 to acquire treasury shares has been terminated. Pursuant to Article 176-2 of the Enforcement Decree of the Financial Investment Services and Capital Markets Act of Korea, no separate resolution of the board of directors is required as the trust agreement is being terminated upon the expiration of the term of the agreement. The number of treasury shares acquired upon termination of the trust agreement is 7,603,260, which will be kept in Shinhan Financial Group’s corporate account. Before the termination of this trust agreement, the total number of treasury shares that SFG holds is 14,903,260, 2.96% of the total number of shares issued.

    Total Contract Amount

    Before Termination

    400,000,000,000

    After Termination

    0

    Contract Period (Before Termination)

    Effective Date

    October 28, 2024

    Termination Date

    April 27, 2025

    Reason for Termination

    Expiration of the term of the Trust agreement

    Counterparty

    NH Investment & Securities

    Expected Date of Termination

    April 28, 2025

    Method of Return of Trust Properties upon Termination

    Return of cash and treasury shares

    Number of Treasury Shares Held Prior to Termination

    Acquisitions from Profits Available for Dividend*

    Common Shares
    (Percentage)

    14,903,260 (2.96%)

    Other Shares

    -

    Other Acquisitions**

    Common Shares
    (Percentage)

    1 (0.0%)

    Other Shares

    -

    Date of Resolution by the Board of Directors

    -

    * The 14,903,260 shares listed above "7. Treasury stock holdings before contract" represent the total number of treasury shares held as of the reporting date, which includes 7,603,260 shares held under the trust agreement of this termination and 7,300,000 shares held under the trust agreement disclosed on February 6, 2025.

    ** The ‘Number of treasury shares held prior to termination – other Acquisitions’ are fractional shares acquired during the comprehensive stock exchange process (Orange Life, Neoplux, etc.) pursuant to Article 341-2(Acquisition of treasury stocks for a specific purpose) of the Korean Commercial Act

     


     

    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.

     

     

     

     

     

     

     

    Shinhan Financial Group Co., Ltd.

     

    (Registrant)

     

     

     

        Date: April 28, 2025

     

    By:

    /s/ CHUN Sang Yung

     

     

     

     

     

     

    Name: CHUN Sang Yung

     

     

    Title: Chief Financial Officer

     


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