SK Gas : Decision on Acquisition of Sharesor Investment Certificatesof Other Corporations
April 27, 2022 at 04:45 am
Share
Decision on Acquisition of Shares or Investment Certificates of Other Corporations
1. Details of issuing company
Name of company
Ulsan GPS Corporation
Nationality
Republic of Korea
Representative
Cho Seung Ho
Capital stock (KRW)
239,910,000,000
Relationship to company
Affiliated company
Total number of shares issued
47,982,000
Main business
(LNG/LPG)Combined cycle thermal power generation business
2. Details of acquisition
Number of shares to be acquired
21,000,000
Acquisition cost (KRW)
105,000,000,000
Equity capital (KRW)
2,117,363,391,889
Ratio to equity capital (%)
5.0
Classified as a large-sized corporation?
Yes
3. Number of shares held and shareholding ratio after acquisition
Number of shares held
68,624,700
Shareholding ratio(%)
99.5
4. Acquisition method
Cash acquisition
5. Purpose of acquisition
To secure operational and investment funds for Ulsan GPS Co., Ltd.'s power generation business
6. Scheduled acquisition date
2022-05-12
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)
5,121,535,471,833
Acquisition cost /Total assets(%)
2.1
8. Deemed a backdoor listing?
No
-Plan to increase capital through third-party allotment within six months?
N/A
9. Satisfying backdoor listing requirements for the issuing company (another corporation)?
N/A
10. Date of board resolution (decision date)
2022-04-21
-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?
Yes
12. Signed a put option contract, etc.?
No
-Details of agreements
-
13. Other matters to be factored into investment decisions
1) This disclosure is made in relation to Ulsan GPS Corporation, SK Gas's consolidated subsidiary, conducting the (LNG/LPG) Combined cycle thermal power generation business, and its participation in a paid-in capital increase carried forth for the financing of business operation and investment costs.
2) The above 'Capital stock' and 'Total number of shares issued' under '1. Details of issuing company' are as of the day before the resolution of the board of directors (before reflecting the details of this disclosure).
3) The above 'Equity capital' under '2. Details of acquisition', and 'Total assets (as of the end of the latest fiscal year)' under '7. Subject to filing of a material fact report on asset acquisition?' are based on the SK gas's consolidated financial statements as of the end of 2021.
4) The above '6. Scheduled acquisition date' is the expected date of share payment.
5) In this BOD meeting, the authority to decide detailed matters and execute concrete issues in relation to the above investment has been delegated to the CEO or a person designated by the CEO.
6) The above details are subject to change depending on progress and changes in the business environment.
7) The current year in the 'Condensed Financial Statements of Issuing Company' below is as of the end of 2021, the latest fiscal year.
※Related disclosure
2022-04-19 Decision on Paid-in Capital Increase (Material Business Matters of Subsidiary Company)
[Condensed Financial Statements of Issuing Company](KRW)
Category
Total assets
Total liabilities
Total shareholders' equity
Capital stock
Sales
Net income
External auditor's opinion
External auditor
Current fiscal year
237,586,782,915
3,198,928,414
234,387,854,501
239,910,000,000
-
-4,367,822,977
Unqualified
Ernst & Young Han Young
Previous fiscal year
81,626,850,856
2,004,811,604
79,622,039,252
79,910,000,000
-
-3,802,684,711
Unqualified
Ernst & Young Han Young
Two fiscal years prior
28,422,984,105
9,556,746,586
18,866,237,519
149,100,000,000
-
-13,061,471,135
Unqualified
Ernst & Young Han Young
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Disclaimer
SK GAS Ltd. published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 08:44:04 UTC.
SK Gas Ltd is a Korea-based company engaged in the import, storage and marketing of liquid petroleum gas (LPG). The Company imports LPG from the Middle East countries, such as Saudi Arabia, Kuwait and the United Arab Emirates, and provides LGP to domestic oil refineries, petrochemical companies, gas stations and other industries. The Company also operates storage terminals in Ulsan and Pyeongtaek, Korea. The Company also exports LPG to overseas markets.