Hanwha : Decision on Acquisition of Shares or Investment Certificates of Other Corporations (Material Business Matters of Subsidiary Company)
February 23, 2022 at 11:02 pm EST
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Decision on Acquisition of Shares or Investment Certificates of Other Corporations (Material Business Matters of Subsidiary Company)
Subsidiary company
Hanwha Systems UK LTD
's material business matters to report
1. Details of issuing company
Name of company
OneWeb Holdings LTD
Nationality
United Kingdom, UK
Representative
Neil Masterson
Capital stock (KRW)
-
Relationship to company
-
Total number of shares issued
1,586,644
Main business
Satellite communication service
2. Details of acquisition
Number of shares to be acquired
250,000
Acquisition cost (KRW)
358,380,000,000
Equity capital (KRW)
-
Ratio to equity capital (%)
-
3. Number and ratio of shares held after acquisition
Number of shares held
250,000
Shareholding ratio (%)
8.81
4. Acquisition method
Cash
5. Purpose of acquisition
Market penetration and global competitiveness
6. Scheduled acquisition date
2022-02-28
7. Date of board resolution (decision date)
2022-02-22
- Attendance of outside directors
Present (No.)
-
Absent (No.)
-
- Attendance of auditors (members of Audit Committee who are not outside directors)
-
8. Subject to reporting to the Fair Trade Commission?
No
9. Signed a put option contract, etc.?
No
- Details of agreements
-
10. Other matters to be factored into investment decisions
- Hanwha Systems UK LTD., is an overseas subsidiary company, which is 100% owned by HSC. Hanwha Systems UK LTD., is to acquire OneWeb's shares by getting the contract transfer from HSC, which had been released by Public Disclosure on 12th Aug. 202 with the title of "Decision on Acquisition of Shares or Investment Certificates of Other Corporation."
- Above Item No. 1., Total number of shares issued is as of 12th Aug. 2021.
- Above Item No. 2., Acquisition cost is the amount converted from USD USD $300,000,000 to KRW.
- Above Items No. 1. Capital stock of issuing company and No. 2. Details of acquisition, acquisition cost(KRW) are based on the basic exchange rate(KRW 1,194.60 /USD, KRW 1,624.66/GBP as of Feb. 22nd 2022(per the listed exchange rate of Seoul Money Brokerage Services.)
- As Hanwha Systems UK LTD., is a company newly incorporated in Oct. 2022, above Item No.2 Details of acquisition, Equity capital and ration to equity capital((%) remain blank.
- The transaction schedules may change depending on the consultations between the two companies.
- Two fiscal years prior data in below "Condensed Financial Statements of Issuing Company" refers to year 2018 financial statements.
- The issuing company OneWeb had gone bankrupt in March 2020 and moved out of the court protection in Nov. 2020. Because of this, the company couldn't finish the audit by an independent auditor. Therefore, Above No. 1., Capital stock, financial statements of previous fiscal year(2019) and current fiscal year(2020) in below "Condensed Financial Statements of Issuing Company" remain blank.
※ Related disclosure
2022-02-22 Decision on Acquisition of Shares or Investment Certificates of Other Corporations
[Condensed Financial Statements of Issuing Company](in KRW mn)
Category
Total assets
Total liabilities
Total shareholders' equity
Capital stock
Sales
Net income
Current fiscal year
-
-
-
-
-
-
Previous fiscal year
-
-
-
-
-
-
Two fiscal years prior
2,854,724,565,000
1,277,561,670,000
1,577,162,895,000
1,990,092,720,000
0
-246,001,140,000
[Details of Subsidiary Company]
Name of subsidiary company
Hanwha Systems UK LTD
Name in English
Hanwha Systems UK LTD
- Representative
Dongwan Yoo
- Main business
Satellite communication service
- Major subsidiary company?
No
Total assets of subsidiary company (KRW)
-
Consolidated total assets of parent company (KRW)
2,695,070,123,421
Ratio to consolidated total assets of parent company (%)
0.00
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Disclaimer
Hanwha Systems Co. Ltd. published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2022 04:01:06 UTC.
Hanwha Systems Co Ltd is a Korea-based company principally engaged in the defense business. The Company operates its business through three segments. The Defense Business segment is engaged in the manufacture and sale of ground weapon systems, maritime weapons systems, aerospace systems and others. The Information and Communication Technology (ICT) Business segment is engaged in the provision of computer system design and construction, computer system consignment operation and information technology (IT) convergence engineering services. The New Business segment is engaged in the provision of satellite communication antenna, digital platform, electric sensors and others.