15th Mar 2011 08:49
HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Exchange
Disclosure Date : March 15, 2011
Disclosure Title : Change in Large Shareholding (above 5%)
of Investment Securities
1. Name of Investment Security : Hyundai Engineering & Construction (Hyundai E&C)
2. Reason for Change : Hyundai Motor Group consortium(Hyundai Motor Company / Kia Motors Corporation / Hyundai Mobis)entered stock purchase agreement with 9 major shareholding financial institutions(Korea Exchange Bank, Korea Finance Corporation, Woori Bank, Kookmin Bank, Shinhan Bank, Nonghyup, Hana Bank, Hyundai Securities, Citi Global Market Securities) of Hyundai E&C
3. Details of Change in Shareholding :
# of Shares | Shareholding | |
As of Last Report | - | - |
As of Current Report | 38,879,000 | 34.91% |
Change | +38,879,000 | +34.91% |
* The # of Shares in 'As of Current Report' reflects the result of entering stock purchase agreement on shares of Hyundai E&C by Hyundai Motor Group consortium (Hyundai Motor Company, Kia Motors Corporation, Hyundai Mobis) on March 8, 2011.
Company | Relationchip with the comapny | Date of Contract | Type of shares | # of Shares Before | Transaction Counterparty | Type of transaction |
Hyundai Motor Company | The Company | March, 8. 2011 | Common Shares | 23,327,400 | 9 major shareholding financial institutions including Korea Exchange Bank and others | OTC(Over-The-Counter) transaction |
Kia Motors Corporation | Related Party | March, 8. 2011 | 5,831,850 | |||
Hyundai Mobis | Related Party | March, 8. 2011 | 9,719,750 |
(1) Entities involved in transaction
- Acquirer : Hyundai Motor Group consortium (Hyundai Motor Company, Kia Motors Corporation, Hyundai Mobis)
- Seller : 9 Major shareholding financial institutions (Korea Exchange Bank, Korea Finance Corporation, Woori Bank, Kookmin Bank, Shinhan Bank, Nonghyup, Hana Bank, Hyundai Securities, Citi Global Market Securities)
(2) Anticipated closing date of transaction : within 1 month from the date of entering stock purchase agreement
(3) Ohters
-Precondition for the above acquisition is government approval and may change depending on authorization process and related regulation.
Company | Method | Date | Type of shares | # of Shares | Price per share | ||
Before | After | Change | |||||
Hyundai Motor Company | Acquisition (+) | March, 8. 2011 | Common Shares | 0 | 23,327,400 | +23,327,400 | 127,577 |
Kia Motors Corporation | Acquisition (+) | March, 8. 2011 | 0 | 5,831,850 | +5,831,850 | 127,577 | |
Hyundai Mobis | Acquisition (+) | March, 8. 2011 | 0 | 9,719,750 | +9,719,750 | 127,577 | |
: as of current
announcement
Relationship | Company | # of Shares | ||
Type of Shares | Number of Shares(Shares) | Percentage of shareholding | ||
The Company | Hyundai Motor Company | Common Shares | 23,327,400 | 20.95 |
Related Party | Kia Motors Corporation | 5,831,850 | 5.24 | |
Related Party | Hyundai Mobis | 9,719,750 | 8.73 | |
4. Source of funds
(1) Funds for acquisition : KRW 4,960,066,583,000
- Retained cash from general operations among consortium members (Hyundai Motor Company, Kia Motors Corporation, Hyundai Mobis)
(2) Funds for acquisition by consortium member
- Hyundai Motor Company : KRW 2,976,039,949,800
- Kia Motors Corporation : KRW 744,009,987,450
- Hyundai Mobis : KRW 1,240,016,645,750
Related Shares:
Hyundai Mtr.gdr