Decision on Capital Reduction (Material Business Matters of Subsidiary Company)
Subsidiary company SpinX Games Limited 's material business matters to report
1. Class and number of shares to be reduced Common stock (shrs.) 210,000,000
Different classes of stocks (shrs.) -
2. Par value per share (KRW) 1,306
3. Changes in capital stock Before capital reduction (KRW) After capital reduction (KRW)
482,061,601,306 207,717,601,306
4. Change in number of shares issued Category Before capital reduction (shrs.) After capital reduction (shrs.)
Common stock (shrs.) 369,000,001 159,000,001
Different classes of stocks (shrs.) - -
5. Capital reduction ratio (%) Common stock 56.91
Different classes of stocks -
6. Record date of capital reduction 2022-08-02
7. Method of capital reduction Paid-in capital reduction (retirement of shares)
8. Reasons for capital reduction Partial recovery of investment
9. Schedule for capital reduction Scheduled date of shareholders' meeting 2022-08-02
Book closure period -
Period for submission of old share certificates -
Scheduled delivery date of new share certificates -
10. Period for filing statement of objections by creditors -
11. Place for submitting old share certificates and delivery of new share certificates -
12. Date of board resolution (decision date) 2022-08-02
- Attendance of outside directors Present (No.) 1
Absent (No.) 0
- Attendance of auditors (members of Audit Committee who are not outside directors) -
13. Subject to reporting to the Fair Trade Commission? No
14. Other matters to be factored into investment decisions - This disclosure concerns a decrease in capital of SpinX Games Limited, a subsidiary in which the Company owns a 100% equity interest, and there is no change in its shareholding ratio due to this decision of capital reduction.

- The subsidiary SpinX Games Limited will purchase and retire 210,000,000 common shares from the Comapny at 1 USD per share, equivalent to the par value, in accordance with the resolution for this paid-in capital reduction.

- The "2. Par value per share (KRW)" above is 1 USD, and the "3. Changes in capital stock" before and after capital reduction' is the amount converted into the Korean Won by applying KEB Hana Bank's initial basic exchange rate (KRW/USD = 1,306.40) as of the date of disclosure.

- This paid-in capital reduction is made in accordance with local laws of Hong Kong, and Paragraphs 9, 10, and 11 above are not applicable.

- The "12. Date of board resolution" above is the date of board resolution of SpinX Games Limited.

- The total assets of the subsidiary company and the parent company below are based on the consolidated financial statements as of the end of 2021, and are the amount converted into the Korean Won by applying KEB Hana Bank's initial basic exchange rate (KRW/USD = 1,190.50) as of December 31, 2021.
※ Related disclosure -
[Details of Subsidiary Company]
Name of subsidiary company SpinX Games Limited Name in English SpinX Games Limited
- Representative Liang Zhang
- Main business Game publishing and operation business
- Major subsidiary company? No
Total assets of subsidiary company (KRW) 369,074,890,396
Consolidated total assets of parent company (KRW) 10,663,783,073,696
Ratio to consolidated total assets of parent company (%) 3.5

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Netmarble Corp. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 08:46:04 UTC.