SK Inno Opens Website Ahead of SK E&S Merger to "Enhance Shareholder Communication"

Emphasizing Merger Synergies... Includes Q&A with Shareholders
"We Will Continue Active Communication with Shareholders"

SK Innovation has engaged in various ways to communicate with general shareholders ahead of its merger with SK E&S.

On the 22nd, SK Innovation announced that since the 5th, it has separately launched a 'SK Innovation?SK E&S Merger' site on its corporate website and portals to provide various information such as merger integration synergy and the convening of an extraordinary general meeting of shareholders.

Considering the impact of the merger on the stock price, SK Innovation operated a dedicated website to communicate with shareholders. The company collected questions from shareholders for about two weeks and released answers summarizing ▲the background of the merger 추진 (promotion) ▲synergy effects ▲post-merger shareholder return policy ▲future schedule. In particular, explanations were included in response to controversies raised about the calculation of the merger ratio.

The merger ratio between SK Innovation and SK E&S is 1 to 1.19, and some shareholders criticized that it is unreasonable to base it on this while SK Innovation’s market price is undervalued. Regarding this, SK Innovation explained, "According to the Capital Markets Act, the merger price of a listed company is based on the standard market price as a principle," and added, "It is a decision made by comprehensively considering legal regulations and the demands of stakeholders."

Additionally, SK Innovation posted its Q2 earnings newsletter and the earnings presentation conference call audio file on the website. Furthermore, at the extraordinary general meeting of shareholders on the 27th, shareholders will be able to express their approval or disapproval of the merger agenda through electronic voting without attending in person.

Moreover, to help shareholders understand the business of SK E&S, which is an unlisted company, SK Innovation held three business briefings and disclosed related materials after the merger announcement.

Park Sang-gyu, CEO of SK Innovation, sent a shareholder letter containing details on merger synergy effects and shareholder return policies immediately after the board of directors resolved the merger agenda on the 17th of last month. On the 18th, CEO Park and SK management held a press briefing to explain the significance of the merger, integration synergy, future growth strategies, and vision.

An SK Innovation official said, "We will continue to actively communicate with general shareholders and other stakeholders about merger-related synergies and visions through various channels and methods."

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