SimmTech Co. Ltd. (KOSDAQ:A036710) announced the spin-off of business sector of manufacturing and sales of Printed Circuit Boards on February 23, 2015. As per the terms of the agreement, 0.5398602 shares of the spun-off company will be issued for every share of SimmTech Co.

Ltd. The total shares issued of the new entity would be 18.07 million. The new entity is expected to be known as SIMMTECH Co.Ltd and will be listed on stock exchange on August 7, 2015. SimmTech Co.

Ltd. (KOSDAQ:A036710) will operate investment business and change its name to SIMMTECH HOLDINGS CO., LTD. The record date is June 30, 2015. As of December 31, 2014, the total assets of new business will be KRW 527.49 billion. Board of Directors of SimmTech Co.

Ltd. made a resolution in favor of the transaction on February 23, 2015. The tentative date of general meeting of stockholders for a Spin-off program memorandum approval is May 29, 2015. Shareholders of SimmTech Co.

Ltd. approved the transaction on May 29, 2015. The deal is expected to close on July 1, 2015. The spun off entity will trade under the symbol KRKSDQ.