Lock&Lock "Major Shareholder Affinity to Proceed with Delisting through Comprehensive Stock Swap"

Lock&Lock's largest shareholder, Affinity Equity Partners, announced on the 5th that "as a measure for the company's delisting and complete subsidiary conversion, shares will be contributed in kind to a newly established domestic corporation, and the new corporation will proceed with a comprehensive stock exchange with the company," adding that "the establishment process of the new domestic corporation is currently underway."

At the same time, Affinity stated that it plans to pursue additional purchases of its common shares. Affinity intends to submit purchase orders for the shares excluded from the tender offer at the same price of 8,750 KRW per share through NH Investment & Securities.

The purchase period is from the 7th of this month until September 6th and may be extended. Affinity has held a 69.64% stake in Lock&Lock and has been conducting a tender offer for the delisting of Lock&Lock since April.

Through the first tender offer conducted until the 14th of last month, Affinity acquired 15.80% of Lock&Lock shares at 8,750 KRW per share and has started an additional tender offer at the same price. After the first tender offer, Affinity's stake increased to 85.44%. The second tender offer was conducted until today.

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