KB Financial : Update on Kookmin Bank's Decision on Capital Injection in PT Bank KB Bukopin Tbk - Form 6-K

Update on Kookmin Bank's Decision on Capital Injection in PT Bank KB Bukopin Tbk.

On April 7, 2023, KB Financial Group Inc. ("KB Financial Group") updated its previous disclosure made on February 17, 2023 regarding the decision by Kookmin Bank, one of KB Financial Group's wholly-owned subsidiaries, to inject capital into PT Bank KB Bukopin Tbk. ("Bank KB Bukopin"), as follows:

On April 7, 2023, KB Financial Group disclosed that Kookmin Bank entered into a put option agreement (including provisions for a call option) (the "Agreement") with STIC Eugene Star Holdings Inc. ("STIC") for a certain number of million shares of Bank KB Bukopin to be issued as part of KB Bank Bukopin's rights offering (the "Rights Offering"). Pursuant to the Agreement, STIC may exercise its put option on all or part of such shares against Kookmin Bank. The key details of the Agreement are as follows:

1.	Put Option

A.

Put Option: STIC's right to sell the shares of Bank KB Bukopin it acquires through its participation in the Rights Offering.

B.

Shares subject to Put Option: Number of shares of Bank KB Bukopin that corresponds to IDR 3.19 trillion, the amount of investment to be made by STIC.

C.

Exercise Period of Put Option: Within one year from the end of the three-year period following the acquisition of shares.

D.

Exercise Price of Put Option: based on a base rate plus a certain spread agreed to by STIC and Kookmin Bank at the time of participation in the Rights Offering.

2.	Call Option

A.

Call Option: Kookmin Bank's right to purchase the shares of Bank KB Bukopin acquired by STIC through STIC's participation in the Rights Offering.

B.

Shares subject to Call Option: Number of shares of Bank KB Bukopin that corresponds to IDR 3.19 trillion, the amount of investment to be made by STIC.

C.

Exercise Period of Call Option: Within six months from the end of the two-year and six-month period following the acquisition of shares.

D.

Exercise Price of Call Option: based on a rate of return agreed to by STIC and Kookmin Bank at the time of participation in the Rights Offering, or a benchmark share price from a certain period prior to exercising the Call Option.