E MART : Decision on Disposal of Stocks or Investment Certificates of Other Corporation (Voluntary Disclosure)
March 07, 2022 at 11:11 pm EST
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Decision on Disposal of Stocks or Investment Certificates of Other Corporation (Voluntary Disclosure)
1. Details of Issuing Company
Name of Company
Shinsegae Live Shopping Inc.
Nationality
Republic of Korea
Representative
Kim Hong Kuk
Capital Stock (KRW)
74,000,000,000
Relationship to Company
Affiliated Company
Total Number of Shares issuesd
14,800,000
Main Business
Retail sale
via mail order
houses or via
internet
2. Details of Disposal
Number of Shares to Be Disposed
7,078,262
Disposal Amount (KRW)
141,770,000,000
Equity Capital (KRW)
10,496,578,899,630
Ratio to Equity Capital(%)
1.35
If Classified as a Large-scale Corporation
Yes
3. Number of Shares Held and Shareholding Ratio after Disposal
Number of Shares Held
0
Shareholding Ratio(%)
0.00
4. Purpose of Disposal
Business reorganization and
asset efficiency improvement
5. Scheduled Disposal Date
2022-03-03
6. Date of Board Resolution (Decision Date)
2022-03-03
- Attendance of Outside Directors
Present(No.)
4
Absent(No.)
-
- Attendance of Auditors(members of Audit Committee)
-
7. If entered into an agreement for Put Option, Call Option, Put Back Option, etc.
No
- Details of agreements
-
8. Other references useful for making investment decisions
○ This is a transaction to dispose of a 47.83% stake in Shinsegae Live Shopping
Inc. owned by Emart to SHINSEGAE Inc..
○"Equity capital (KRW)" in "2. Details of disposal" is the amount on
the consolidated financial statements as of the end of 2020.
○"5. Scheduled disposal date" is the date of signing of the contract,
and the transaction is expected to be closed after the prerequisites are met,
such as obtaining approval from the Ministry of Science and ICT following
the change of the largest shareholder.
○ The "Current fiscal year" in the [Condensed Financial Statement of
Issuing Company] below is based on 2020.
※ Title and date of other disclosure related to this one
-
[Condensed Financial Statement of Issuing Company](Mil. KRW)
Type
Total Assets
Total Liability
Total Shareholders' Equity
Capital Stock
Sales
Net Income
Current fiscal Year
121,650
97,533
24,116
74,000
230,895
23,571
Previous fiscal Year
53,797
57,924
-4,127
69,000
162,064
-3,460
Fiscal Year before previous fiscal Year
42,059
51,459
-9,339
59,000
129,639
-8,369
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Disclaimer
E-Mart Inc. published this content on 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 04:10:00 UTC.
E-Mart Inc is a Korea-based company mainly engaged in the hypermarket business. Along with subsidiaries, the Company operates its business through five segments. The Distribution Business segment is mainly engaged in operating hypermarkets by selling household goods including food and home appliances. The Food and Beverage segment is engaged in the manufacture and distribution of food products, as well as the provision of catering and consignment services. The Hotel and Resort Business segment is mainly engaged in operating hotels and resorts. The Construction and Leisure segment is engaged in the construction business. The Overseas Business segment is engaged in discount store operating businesses and food retail businesses in overseas markets including Vietnam and the United State.
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