Revision Date | 2022-03-24 |
1. Disclosure Documents in relation with Revision | Decision on Paid-In Capital Increase (Material Business Matters of Subsidiary Company) | |
2. Submission date of documents | 2022-03-24 | |
3. Reason for Revision | Confirmation of schedule | |
4. Revised Information | ||
information | before revision | after revision |
8. Reference date for new share allotment | 2022-04-28 | 2022-03-28 |
11. Scheduled date of subscription |
Start date: 2022-04-29 End date: 2022-04-29 |
Start date: 2022-03-29 End date: 2022-03-29 |
12. Date for payment of subscription money | 2022-04-29 | 2022-03-29 |
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Subsidiary company | Ecovance Co., Ltd. (tentative) | 's material business matters to report |
1. Class and number of new shares | Common stock (shrs.) | 7,900 |
Different classes of stocks (shrs.) | - | |
2. Par value per share (KRW) | 5,000 | |
3. Total number of shares issued before increase of capital stock | Common stock (shrs.) | 10 |
Different classes of stocks (shrs.) | - | |
4. Purpose of financing | Facility investment (KRW) | 79,000,000,000 |
Business acquisition (KRW) | - | |
Operating capital (KRW) | - | |
Debt repayment (KRW) | - | |
Acquisition of securities issued by other corporations (KRW) | - | |
Other purposes (KRW) | - | |
5. Method of capital increase | Rights offering |
6. Issuing price of new shares | Final Issuing price | Common stock (KRW) | 10,000,000 | |
Different classes of stocks (KRW) | - | |||
Expected issuing price | Common stock (KRW) | - | Expected date of finalization | - |
Different classes of stocks (KRW) | - | Expected date of finalization | - | |
7. Calculation method of issuing price | Refer to "22. Other matters to be factored into investment decisions- e. Calculation basis for issuing price of new shares" | |||
8. Record date for new share allotment | 2022-03-28 | |||
9. Number of new shares per outstanding share | 790 | |||
10. Preferential allotment ratio for employee stock ownership association (%) | - | |||
11. Scheduled date of subscription | Employee shares ownership association | Start date | - | |
End date | - | |||
Existing shareholders | Start date | 2022-03-29 | ||
End date | 2022-03-29 | |||
12. Date for payment of subscription money | 2022-03-29 | |||
13. Plan for handling forfeited shares | - | |||
14. Record date of dividend payout | 2022-01-01 | |||
15. Scheduled delivery date of new share certificates | - | |||
16. Lead underwriter (in case of indirect offering) | - | |||
17. Transfer of preemptive rights to new shares? | No | |||
18. Date of board resolution (decision date) | 2021-12-07 | |||
- Attendance of outside directors | Present (No.) | - | ||
Absent (No.) | - | |||
- Attendance of auditors (members of Audit Committee who are not outside directors) | Present | |||
19. Subject to filing of securities registration statement? | No | |||
20. Reasons for exemption from filing securities registration statement, if exempted |
It does not fall under Article 9 Paragraph 7 of the Financial Investment Business and Capital Markets Act, and the relevant subsidiary is an unlisted entity. | |||
21. Subject to reporting to the Fair Trade Commission? | Yes | |||
22. Other matters to be factored into investment decisions |
a. A disclosure is made since the subsidiary's amount of capital increase with(KRW 79 billion) corresponds to 2.5% or more of the equity(KRW 1.915 trillion) for the latest business year of the parent company of SKC. b. This is a transaction where 'Ecovance Co., Ltd. (tentative)' receives the PBAT/PBS* production technology and related intellectual property rights owned by SKC Co., Ltd., the largest shareholder, and SKC receives all new shares(7,900 shares) issued by 'Ecovance Co., Ltd. (tentative)'. * Polybutylene Adipate Terephthalate("PBAT") and Polybutylene Succinate("PBS") c. The facility funds of "4. Purpose of financing" are intended for constructing the PBAT plant of 'Ecovance Co., Ltd. (tentative)'. d. The schedule and details above are subject to change according to the progress of the contract, etc. e. Calculation method for "6. Issuing price of new shares" : 'Ecovance Co., Ltd. (tentative)' is an unlisted company and the issuing price of 'Ecovance Co., Ltd. (tentative)' for the capital increase is not subject to Article 5-18 "Issuing Price of Capital Increase with Consideration" of the Regulations on the Issuance and Disclosure of Securities, etc., which is a method of calculating the offering price of capital increase with consideration via the issuance of market value of a listed company. Accordingly, from the objective standpoint of a third party, the company requested Hana Appraisal for a value estimation of PBAT/PBS production technology and related intellectual property rights owned by SKC Co., Ltd., which will be invested in kind for 'Ecovance Co., Ltd. (tentative).' The assets invested in kind were valued at KRW 79 billion, and the extraordinary general meeting of 'Ecovance Co., Ltd. (tentative)' decided the issuing price at KRW 10,000,000 per share (a 2,000 times premium was issued as a capital increase with consideration allocated 100% for the shareholders.) f. "18. Date of board resolution (decision date)" is the date of the extraordinary general meeting of 'Ecovance Co., Ltd. (tentative).' g. "15. Scheduled delivery date of new share certificates" above is not applicable since the share certificates have not been issued. h. The subsidiary in [Details of Subsidiary Company] below was newly incorporated in November 2021, and hence, the financial information has not been entered, and the total amount of consolidated assetof the parent company is based on the consolidated financial statements of the parent company at the end of the latest business year (end of 2020). | |||
※ Related disclosure |
2021-11-25 Decision on Acquisition of Shares or Investment Certificates of Other Corporations |
Name of subsidiary company |
Ecovance Co., Ltd. (tentative) | Name in English | Ecovance Co., Ltd. |
- Representative | Junghwan Shin | ||
- Main business |
PBAT production/sales (Polybutylene Adipate Terephthalate) | ||
- Major subsidiary company? | No | ||
Total assets of subsidiary company (KRW) | - | ||
Consolidated total assets of parent company (KRW) | 5,406,405,840,533 | ||
Ratio to consolidated total assets of parent company (%) | - |
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SKC Ltd. published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 08:07:04 UTC.