Doosan Robotics "Enhancing Fairness and Objectivity by Selecting Additional External Evaluation Agencies"

On the 13th, Park Ji-won, Group Vice Chairman (second from the left), who attended the '2017 RoboWorld Exhibition' held at KINTEX in Goyang-si, Gyeonggi-do, is watching a demonstration of collaborative robot operations while receiving an explanation from Lee Byung-seo, CEO of Doosan Robotics (right).

Doosan Robotics announced on the 30th that it has resubmitted a revised securities registration statement regarding the spin-off merger with Doosan Enerbility. In this revised registration statement, there are plans to additionally select external evaluation agencies in the future to enhance fairness and objectivity.

A Doosan representative explained, "Anjin Accounting Corporation, which was the external auditor for Doosan Robotics in the previous fiscal year, is responsible for evaluating and verifying the fairness of the merger price in this spin-off merger. To avoid any misunderstandings regarding fairness and objectivity, we have pre-announced plans to additionally select external evaluation agencies."

He added, "Since the merger price is calculated based on market value regardless of the financial statements of the previous fiscal year, the execution of this external evaluation work is not restricted. We have also obtained confirmation on this matter from the accounting firm and legal advisors involved."

Doosan Robotics plans to resubmit a revised registration statement reflecting the verification results once the additional external evaluation agencies have been selected and validated.

Earlier, Doosan Group announced that it would re-pursue a business restructuring plan to separate Doosan Bobcat from Doosan Enerbility and place it under Doosan Robotics as a subsidiary. Doosan Group had previously pursued a business restructuring plan to merge Doosan Bobcat and Doosan Robotics through a comprehensive stock swap, but withdrew the plan at the end of August due to shareholder opposition and pressure from financial authorities.

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