REG - Hyundai Motor Co - Resolution on Disposal of Treasury Stock

Hyundai Motor CoAnnouncement

14/11/2019 07:00

RNS Number : 3943T
Hyundai Motor Company
14 November 2019
 


 
HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Exchange
 
 
Disclosure Title  :  Resolution on Disposal of Treasury Shares
 
1.    Number of stocks to be disposed : 778,575 common shares
.
2.    The price of a share to be disposed : KRW 121,000
 
3.    Expected disposal amount : KRW 94,207,575,000
 
4.    Scheduled date of share disposal : November 29, 2019 ~ November 29, 2019
 
5.    Purpose of disposal : To transfer treasury stocks to employee stock ownership association
 
6.    Method of disposal : Over-the-counter transfer
 
7.    Securities firms commissioned : Hyundai Motor Securities
 
8.    Board Resolution date      :  October 24, 2019
* 6 external directors were present for the board decision.
 
9.    Notes
 
a. Treasury shares have been acquired and will be transferred to the employee stock ownership association, therefore numbers of stocks to be disposed may subject to change depending on the number of current employees on the date of actual disposal.
 
b. (No.3) The "Expected disposal amount" has been calculated by multiplying the number of shares to be acquired by the closing price of common share the day before the board decision date. The amount is subject to change based on shift in share price. (Closing price of common share on October 23, 2019 : KRW 121,000)
 
c. (No.8) Audit committee consists of all External directors (All attended).




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