The Board of Daeduck Electronics Co., Ltd. (KOSE:A008060) announced the split off of Printed Circuit Board Division on December 2, 2019. Under the terms, split ratio is 0.63. per share.

After the split, Printed Circuit Board Division will proceed with a tender offer in the form of a tender offer for the shares of Printed Circuit Board Division of the newly established subsidiary in order to satisfy the requirements of the holding company. The tender offer will be for all shareholders who have a registered common stock of Daeduck Electronics. In return, a registered common stock issued by Printed Circuit Board Division will be issued as a new stock in return.

Post completion, Printed Circuit Board Division will operate as a separate entity under the name of Daedeok Electronics Co., Ltd. As of May 4, 2020, the record date of the transaction is May 21, 2020. Transaction is subject to approval of shareholders of Daeduck Electronics in a meeting which is scheduled to be held on March 27, 2020. The transaction was resolved by the Board of Daeduck Electronics on December 2, 2019.

Transaction is expected to close on May 1, 2020.