SK Telecom : Decision on Disposal of Treasury Shares - Form 6-K

Decision on Disposal of Treasury Shares

On October 12, 2021, the board of directors of SK Telecom Co., Ltd. (the "Company") approved the Company's disposal of treasury shares for the purpose of allotting shares as bonus payment to its officers and employees.

1. Number of Treasury Shares to be Disposed		Common shares		520,000
	Preferred shares		-
2. Price of the Treasury Shares to be Disposed (Won)		Common shares		304,500
	Preferred shares		-
3. Estimated Aggregate Disposal Value (Won)		Common shares		158,340,000,000
	Preferred shares		-
4. Disposal Period		From		October 25, 2021
	To		January 11, 2022
5. Purpose of Disposal		Allotment of shares as bonus payment
6. Method of Disposal		Over-the-counter
7. Investment Brokerage Agent		Hana Financial Investment Co., Ltd.
8. Treasury Shares Held Before Disposal		Acquisition within Limit Based on Maximum Amount of Dividends Payable		Common shares		899,500		Percentage of shares (%)		1.25
	Preferred shares		-		Percentage of shares (%)		-
	Other Acquisition		Common shares		-		Percentage of shares (%)		-
	Preferred shares		-		Percentage of shares (%)		-
9. Date of Resolution by the Board of Directors		October 12, 2021
-   Attendance of Outside Directors		Present: 5; Absent: 0
-   Attendance of Auditors (Audit Committee Members who are not Outside Directors)		-
10. Maximum Daily Sale Order		Common shares		-
		Preferred shares		-

11.	Other Matters Relating to an Investment Decision

-

The number of treasury shares to be disposed under Item 1 above may change within the range approved by the board of directors based on the number of officers and employees at the time of disposal.

-

In case of allotment of treasury shares pursuant to the above after the modified listing of the Company's shares (scheduled to be November 29, 2021) following the spin-off of SK Square Co., Ltd. from the Company, the Company expects to allot the number of treasury shares of the Company after the spin-off and shares of SK Square Co., Ltd. that are collectively equivalent to the number of treasury shares of the Company prior to the spin-off.

-

Items 2 and 3 above are based on the closing price on October 8, 2021, the last trading day before the date of the resolution by the board of directors. The actual price and aggregate value of the treasury shares to be disposed may change as of the date of disposal.

-

In connection with the disposal period under Item 4 above, no treasury shares will be disposed during the trading suspension period of the Company's shares (October 26, 2021 - November 26, 2021).

-

In connection with the method of disposal under Item 6 above, the disposal will be implemented by the transfer of shares from the Company's securities account for treasury shares to the securities account of the officer or employee to whom the shares are allotted as bonus payment.

[Treasury Shares Held Prior to Decision on Disposal of Treasury Shares]

(Unit: shares)
Method of acquisition		Type of shares		Beginning			Change			End			Notes
	Acquired (+)			Disposed (-)			Cancelled (-)
Acquisition within limit based on maximum amount of dividends payable		Direct acquisition		Direct acquisition through stock exchange		Common shares			7,609,263				-				120,990				7,488,273				0				-
	Preferred shares			-				-				-				-				-				-
	Over-the- counter acquisition		Common shares			-				-				-				-				-				-
	Preferred shares			-				-				-				-				-				-
	Tender offer		Common shares			-				-				-				-				-				-
	Preferred shares			-				-				-				-				-				-
	Subtotal (a)		Common shares			7,609,263				-				120,990				7,488,273				0				-
	Preferred shares			-				-				-				-				-				-
	Acquisition through broker		Held in trust by broker		Common shares			1,809,295				288,000				2,097,295	(1)			-				0				-
	Preferred shares			-				-				-				-				-				-
	Held by Company		Common shares			-				2,097,295(1)				500				1,197,295				899,500				-
	Preferred shares			-				-				-				-				-				-
	Subtotal (b)		Common shares			1,809,295				2,385,295				2,097,795				1,197,295				899,500				-
	Preferred shares			-				-				-				-				-				-
Other acquisition (c)		Common shares			-				-				-				-				-				-
	Preferred shares			-				-				-				-				-				-
Total (a+b+c)		Common shares			9,418,558				2,385,295				2,218,785				8,685,568				899,500				-
	Preferred shares			-				-				-				-				-				-

(1)	Represents the number of shares that were returned to the Company by the broker upon termination of the share repurchase agreement on April 30, 2021.