26th Jun 2009 09:44
Decision on Acquisition of Share or Investment Securities of Other Corporation
1.Detail of Issuing Company |
Name of Company (Nationality) |
Daishin Investment Trust Management (Korea) |
Representative |
Hyeong-Cherl Lee |
|
Capital Stock (KRW) |
30,000,000,000 |
Total Number of Outstanding Shares |
6,000,000 |
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Relationship to Company |
Subsidiary Company |
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Main Business |
Collective Investment Scheme Service |
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2. Detail of Acquisition |
Number of Shares to Be Acquired |
2,800,000 |
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Acquisition Amount (KRW) |
28,000,000,000 |
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Equity Capital (KRW) |
1,657,618,952,556 |
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Ratio to Equity Capital (%) |
1.69% |
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Applicability of Large-scale Corporation |
Yes |
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3.Number of Shares Held and Shareholding Ratio after Aquisition |
Number of Shares Held |
8,800,000 |
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Shareholding Ratio (%) |
100% |
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4.Aquisition Method |
Cash Acquisition |
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5.Purpose of Acquisition |
To increase financial stability and health of Subsidiary Company |
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6.Scheduled Acquisition Date |
June, 29, 2009 |
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7.Date of Board of Director's Resolution (Decision Date) |
June, 26, 2009 |
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-Attendance of Outside Directors |
Present (No.) |
4 |
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Absent (No.) |
- |
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-Attendance of Auditors (Numbers of Audit Committee) |
Present |
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8.Other references concerning investment decision |
1. The above issuing company, Daishin Investment Trust Management (hereinafter referred to as 'DITM'), held the board of directors meeting on 26th June 2009 and approved on the rights issue(offering) in order improve financial health after occurrence of the financial accident of its private special asset fund in February 2009. 2. DITM estimates the loss incurred from the financial accident to be approximately 37.2bn, and this is expected to be settled by the end of June using reserve funds for debts. After increasing equity capital through the rights offering, plans for reduction of capital stock without any refund will be initiated to increase financial stability and health. 3. As the largest shareholder, Daishin Securities has opened the board of directors meeting on 26th June 2009, and voted to participate in the rights offering of DITM. - Rights offering amount : 28,000,000,000Won - Method of rights offering : shareholders distribution method (Daishin Securities holds 100% stake) 4. DITM's total amount in reserve funds for debts used will be reflected in Daishin Securities' 1Q(Apr~June) financial statement as loss valuation under the equity method. 5. Scheduled acquisition date is expected date of payment. |
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※Relevant Disclosure |
- |
Condensed Financial Statement of Issuing Company
(Unit : in million Won)
Classification |
Total Asset |
Total Liabilities |
Total Shareholers Equity |
Capital Stock |
Sales |
Net Income |
This Year |
39,693 |
237 |
39,456 |
30,000 |
6,246 |
298 |
Last Year |
39,888 |
430 |
39,458 |
30,000 |
5,893 |
599 |
The year before last |
40,867 |
507 |
40,360 |
30,000 |
5,845 |
901 |
Related Shares:
DSS.L