Decision on Acquisition of Shares or Investment Certificates of Other Corporations
- Registration Date
- 2026.07.02
Decision on Acquisition of Shares or Investment Certificates of Other Corporations
| 1. Details of issuing company | Name of company | (provisional title) GlaSSEM Co., Ltd. | ||
| Nationality | Republic of Korea | Representative | Dongwoo Lee | |
| Capital stock (KRW) | 482,100,000,000 | Relationship to company | - | |
| Total number of shares issued | 96,420,000 | Main business | Glass Core Manufacturing and Sales |
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| 2. Details of acquisition | Number of shares to be acquired | 63,820,000 | ||
| Acquisition cost (KRW) | 319,100,000,000 | |||
| Equity capital (KRW) | 9,797,343,882,863 | |||
| Ratio to equity capital (%) | 3.3 | |||
| Classified as a large-sized corporation? | Yes | |||
| 3. Number of shares held and shareholding ratio after acquisition | Number of shares held | 63,820,000 | ||
| Shareholding ratio(%) | 66.2 | |||
| 4. Acquisition method | Cash and In-Kind investments | |||
| 5. Purpose of acquisition | A joint venture is being established with Dongwoo Fine-Chem, a subsidiary of Sumitomo Chemical in Japan, to secure a leading position in the glass substrate market |
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| 6. Scheduled acquisition date | 2026-09-01 | |||
| 7. Subject to filing of a material fact report on asset acquisition? | No | |||
| -Total assets (as of the end of the latest fiscal year) (KRW) | 14,595,895,255,468 | Acquisition cost /Total assets(%) | 2.2 | |
| 8. Deemed a backdoor listing? | N/A | |||
| -Plan to increase capital through third-party allotment within six months? | No | |||
| 9. Satisfying backdoor listing requirements for the issuing company (another corporation)? | N/A | |||
| 10. Date of board resolution (decision date) | 2026-07-02 | |||
| -Attendance of outside directors | Present (No.) | 4 | ||
| Absent (No.) | 0 | |||
| -Attendance of auditors (members of Audit Committee who are not outside auditors) | - | |||
| 11. Subject to reporting to the Fair Trade Commission? | No | |||
| 12. Signed a put option contract, etc.? | Yes | |||
| -Details of agreements | (1) Samsung Electro-Mechanics' Call Option. After five years from the establishment date of the issuing company, If the parties fail to agree on the agenda within the deadlock resolution consultation period, Samsung Electro-Mechanics may request Dongwoo Fine-Chem to sell all of the company's shares owned by Dongwoo Fine-Chem at an 120% price per share valued by the accounting firm. (2) Dongwoo Fine-Chem's Put Option. After five years from the establishment date of the issuing company, If the parties fail to agree on the agenda within the deadlock resolution consultation period, Dongwoo Fine-Chem may request Samsung Electro-Mechanics to buy all of the company's shares owned by Dongwoo Fine-Chem at an 80% price per share valued by the accounting firm. |
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| 13. Other matters to be factored into investment decisions | - The above '1. Issuing company' is a newly established company in a joint venture with Dongwoo Fine-Chem, and company name is provisional title and may change. - The above '4. Acquisition method', Cash investment is KRW 239.1 billion, and In-Kind investment is KRW 80 billion. - The above '6. Scheduled acquisition date' is the scheduled payment date of the investment capital. - The below 'Condensed Financial Statements of Issuing Company' is not stated as the Issuing Company is a newly established entity. - The above information has been finalized through the resolution of the company's board of directors and may be subject to some changes in the process of establishing a joint venture. |
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| ※Related disclosure | - | |||
| Category | Total assets | Total liabilities | Total shareholders’ equity | Capital stock | Sales | Net income | External auditor’s opinion | External auditor |
| Current fiscal year | - | - | - | - | - | - | - | - |
| Previous fiscal year | - | - | - | - | - | - | - | - |
| Two fiscal years prior | - | - | - | - | - | - | - | - |
| The contents of this English disclosure have been prepared solely by the relevant listed company and has not been reviewed, audited or examined by KRX. The English disclosure is being provided for reference purposes only to assist foreign investors in their investment decisions relating to such listed company’s listed securities. In the event of any discrepancy or difference between the contents of the Korean disclosure and those of the English disclosure, the Korean version shall prevail. It is, therefore, imperative that you review the original Korean disclosure available on KIND (https://kind.krx.co.kr) before making any investment decision. |