Daehan Steel Co., Ltd. (KOSE:A084010) announced the spin off of its business on November 24, 2022. A new company will be established through division and stocks of the newly established company are allocated in proportion to the share ratio as of the date of allocation of new stocks for split-off. The number of shares of the newly established company to be issued per common stock to the shareholders of the divided company is 0.6251810 common stock.

The base date for allotment of new shares shall be March 31, 2022. As of September 30, 2022, the business reported Total assets of KRW 448.9 billion and total capital of KRW 238.1 billion. After the division, the company surviving the division will be listed and the company established through division will be listed.

It will be re-listed on the stock market after undergoing a re-listing review. Board resolution date for approving division plan was November 24, 2022. Shareholders' meeting date for approval of the spin-off plan is March 15, 2023.

Tentative name of surviving company after division will be DHO Inc. Tentative name of new company established through division will be Daehan Steel Co., Ltd. The date of division shall be April 1, 2023. As of February 27, 2023, the date of division has been revised to June 1, 2023.