by Hwang Yoonju
Published 20 Sep.2022 16:07(KST)
[Asia Economy Reporter Hwang Yoon-joo] Kumho Petrochemical announced on the 20th through its board of directors that it has decided to cancel treasury shares worth 150 billion KRW. The scheduled cancellation date is the 27th. The treasury shares subject to cancellation total 981,532 shares (approximately 150 billion KRW), accounting for 3.2% of the total issued common shares.
▲ ANP = Adjusted the conversion price of the 22nd series bearer, unsecured private convertible bonds from 2,413 KRW to 2,054 KRW due to a decline in market price.
▲ Youngone Corporation = Announced that it has filed arbitration against Beat Zaugg, one of the second-largest shareholders of its subsidiary Scott Corp. Youngone explained that "Beat Zaugg seriously violated the shareholders' agreement, causing difficulties in jointly operating the company and its subsidiary (Scott Corp), leading to the arbitration filing." Youngone stated that it requested confirmation of Beat Zaugg's breach of the shareholders' agreement and confirmation of the applicant's call option rights under the shareholders' agreement on the shares of Scott Corp held by Beat Zaugg.
▲ Comtec Systems = Announced that it has lent 5 billion KRW to its affiliate TKMS (Tookem Systems) for operating funds.
▲ Hanwha Life Insurance = Decided to invest 190 billion KRW in a paid-in capital increase of its affiliate Hanwha General Insurance. The paid-in capital increase of Hanwha General Insurance amounts to 562.67 billion KRW.
▲ Harim Holdings = Decided to dispose of 850,000 treasury shares worth 8.84 billion KRW due to an adjustment in the exchange price of the 4th series bearer, unsecured private exchangeable bonds. The company explained, "This is for the 4th series bearer, unsecured private exchangeable bonds targeting treasury shares, and the disposal quantity was added due to the exchange price adjustment."
▲ Daelim Paper = Decided to acquire treasury shares worth 332 million KRW to stabilize the stock price and enhance shareholder value.
▲ Melpas = Cheongun Partners has applied to appoint an inspector against Melpas, and Melpas announced that it will respond according to legal procedures.
▲ Harim Holdings = Adjusted the conversion price of the 4th series bearer, unsecured private exchangeable bonds from 13,000 KRW to 10,400 KRW due to a decline in market price.
▲ Nokwon C&I = Announced that it has completed payment for a 7 billion KRW third-party allotment paid-in capital increase. The listing date of the new shares is scheduled for October 6.
▲ Deokwoo Electronics = Decided to build a factory worth 20.9 billion KRW for business expansion. This accounts for 20% of its equity capital, and the investment period is from September 20, 2022, to March 31, 2023.
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