The Board of Directors of Dong AhTire & Rubber Co.,Ltd. (KOSE:A007340) announced the spin-off of business sector of rubber on June 14, 2017. The newly established company will be listed on KOSPI stock exchange with the tentative name as DONG AH TIRE & RUBBER CO., LTD. Surviving company after spin-off will be named as DTR Automotive Corporation. For the year ending March 31, 2017, the rubber business had total assets of KRW 365 billion, sales of KRW 204.8 billion.

The resolution date of Board of Directors of Dong AhTire & Rubber Co.,Ltd. is June 14, 2017. The shareholder meeting date is September 26, 2017. As on September 26, 2017, the shareholder meeting of Dong AhTire & Rubber Co.,Ltd. approved the spin-off.

The record date for the transaction is October 10, 2017. The transaction is expected to be completed on November 1, 2017. The new entity is expected to be listed on November 29, 2017.