1. Class and number of shares to be reduced | Common stock (shrs.) | 3,239,741 | |
Different classes of stocks (shrs.) | - | ||
2. Par value per share (KRW) | 100 | ||
3. Changes in capital stock | Before capital reduction (KRW) | After capital reduction (KRW) | |
44,662,289,600 | 44,338,315,500 | ||
4. Changes in number of shares issued | Category | Before capital reduction (shrs.) | After capital reduction (shrs.) |
Common stock (shrs.) | 446,122,896 | 442,883,155 | |
Different classes of stocks (shrs.) | - | - | |
5. Capital reduction ratio | Common stock (%) | 0.73 | |
Different classes of stocks (%) | - | ||
6. Record date for capital reduction | 2022-05-03 | ||
7. Method of capital reduction | Retirement of treasury stocks | ||
8. Reasons for capital reduction |
The decision was made to retire treasury stocks in order to enhance shareholder value - Treasury stocks acquired in the merger process can be disposed by resolution of the general meeting of shareholders in accordance with the capital reduction procedure based on Article 343 of the Commercial Act (Disposal of stocks) | ||
9. Schedule for capital reduction | Scheduled date of shareholders' meeting | 2022-03-29 | |
Book closure period | - | ||
Period for submission of old share certificates | Start date | - | |
End date | - | ||
Scheduled period of trading suspension | Start date | - | |
End date | - | ||
Scheduled delivery date of new share certificates | - | ||
Scheduled listing date of new shares | 2022-05-16 | ||
10. Period for filing statement of objections by creditors | Start date | 2022-03-30 | |
End date | 2022-05-02 | ||
11. Place for submitting old share certificates and delivery of new share certificates | - | ||
12. Date of board resolution (decision date) | 2022-02-24 | ||
- Attendance of outside directors | Present (No.) | 4 | |
Absent (No.) | 0 | ||
- Attendance of auditors (members of Audit Committee) | Present | ||
13. Subject to reporting to the Fair Trade Commission? | No | ||
14. Other matters to be factored into investment decisions |
(1) Stock details subject to capital reduction: treasury stocks acquired through the new merger stocks allocated to part of Kakao M stocks held by Kakao, when Kakao Co., Ltd. and the former Kakao M Co., Ltd. were merged; treasury stocks acquired through the exercise of the right to claim purchase of shares by shareholders who oppose the merger; and treasury stocks acquired through the fraction shares arising from the merger process, etc. (2) Method of capital reduction: As only 3,239,741 of the Company's treasury stocks, which are part of the Company's 12,137,094 shares, will be voluntarily/freely retired, there is no change in the stocks owned by ordinary shareholders. Consequently, there is no procedure for submitting old stock certificates and delivering new stock certificates. (3) The above "9. Schedule for capital reduction- Scheduled date of listing of new shares" is the scheduled date for the change listing. (4) The above information and schedule are subject to change according to consultation with the relevant organizations and the resolution of the general meeting of shareholders; and the decision of other details (including the schedule) and specific tasks related to the capital reduction are delegated to the CEO. |
Basis in articles of incorporation | - |
Details of different classes of stocks | - |
Others | - |
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Kakao Corp. published this content on 02 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2022 08:46:06 UTC.