Samkwang Glass, After Long Preparation... Merged Corporation Becomes a 'Comprehensive Energy Company'

[Asia Economy Reporter Moon Hyewon] Samkwang Glass announced on the 13th that it held a board meeting and decided to hold an extraordinary general meeting of shareholders for merger and spin-off merger.

The extraordinary general meeting of shareholders is scheduled to be held on the 29th of next month. The record date for confirming shareholders for this meeting was set as the 28th of this month. If the merger and spin-off merger pass at the extraordinary general meeting, Samkwang Glass will transform into a comprehensive energy company as early as October.

Samkwang Glass explained that it judged that successfully promoting the merger and spin-off merger to enjoy the effects of the merger, such as improving management efficiency and investment stability, would benefit all shareholders of the three companies, and thus changed the merger and spin-off merger value of Samkwang Glass based on asset value.

Accordingly, the merger value per share of Samkwang Glass, E-Tech Construction, and Gunjang Energy was calculated as 1 : 2.57 : 1.71.

A Samkwang Glass official said, “Since the merger value significantly affects the property value of shareholders, it was decided after long and careful consideration,” and added, “We hope that many shareholders and stakeholders will support this merger for the continuous growth and development of Samkwang Glass.”

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