|Notice on Creditors Filing Objection to Spin-off||2016-01-26|
Notice on Creditors' Filing Objection to Spin-off
According to the third clause of Article 530 of the Commercial Law, the plan of corporate spin-off was approved at the extraordinary shareholders' meeting held on January 22, 2016.
In accordance with the approval, the water environment business of existing company Coway Co., Ltd. will be transferred to a newly establishing company Coway Entech Co., Ltd. Consequently, the new company will be responsible for only liabilities which will be devolved among all liabilities before the spin-off and hold no joint responsibility for remaining liabilities. In addition, the existing company will have responsibility for only liabilities which will not be transferred to the new company among all liabilities before the spin-off and hold no joint responsibility for devolved liabilities.
According to the fifth clause of Article 527 of the Commercial Law, creditors are able to submit their objections to the above decisions in writing within the period given below.
- Details –1. Who : Creditors of Coway Co., Ltd.
2. Submission to: Legal Team of Coway Co., Ltd. (TEL.82-2-2172-1042)
3. Submission period: From Jan. 26 to Feb. 26, 2016
January 26, 2016
Coway Co., Ltd.,
17F, Jungang Ilbo Bldg., 88, Seosomun-ro, Jung-gu, Seoul, Korea
President & CEO Kim, Dong-hyun
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|Next||Notice on Reporting the Spin-off||2016-03-02|