Hugel Announces 2-for-1 Bonus Share Issue to Enhance Shareholder Value

13,353,700 New Shares Issued... Total Shares Outstanding 12,670,000 After Capital Increase
Record Date for New Shares July 9... New Shares Scheduled to be Listed on July 31

[Asia Economy Reporter Hyungsoo Park] Hugel announced on the 23rd that it has decided on a bonus issue allocating 2 new shares for every 1 common share.

The new shares issued through the bonus issue amount to 8,350,370 shares. After the completion of the capital increase, Hugel's total number of issued shares will increase from the existing 4,319,765 shares to 12,670,135 shares. The record date for the new share allocation is the 9th of next month, and shareholders registered in the shareholder registry on that day will be allocated new shares at a ratio of 2 shares per 1 share owned. Treasury shares of 144,580 are excluded. The ex-rights date due to the bonus issue will occur on the 8th of next month. The scheduled listing date for the new shares is the 31st of the same month.

The bonus issue increases the capital by transferring about 4.2 billion KRW from Hugel's existing capital surplus, so there will be no actual change in the total capital after the capital increase is completed. Hugel plans to realize increased stock liquidity and enhanced shareholder value based on the expanded number of issued shares through the bonus issue.

A Hugel official said, "The bonus issue is part of Hugel's ongoing shareholder-friendly policies," and added, "It will have a positive impact not only on enhancing shareholder value but also on improving corporate credibility."

He continued, "Starting with the expected acquisition of approval for botulinum toxin in China around mid-year, we will submit a BLA for entry into Europe by mid-year and the United States by the end of this year," and added, "By the end of next year, we will obtain sales approvals in the three major global markets and leap forward as a ‘global company.’"

Hugel submitted an application for sales approval for botulinum toxin products to enter the Chinese market in April last year. Approval is expected around mid-year.

This content was produced with the assistance of AI translation services.