ORION : Exclusion of Subsidiary from Holding Company
April 07, 2022 at 04:43 am EDT
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Exclusion of Subsidiary from Holding Company
1. Details of subsidiary
A. Company name
Rion Asset Development Co., Ltd.
B. Representative
Jong-soon Yoon
C. Main business
Real estate development and sales
A. Financial status of latest fiscal year (KRW mn)
Total assets
8,067
Total liabilities
54,617
Total shareholders' equity
-46,550
Capital stock
500
2. Shareholding ratio of subsidiary
Before exclusion
Shares held (shrs.)
50,000
Shareholding ratio (%)
100.0
After exclusion
Shares held (shrs.)
-
Shareholding ratio (%)
-
3. Percentage of value of shares held to total assets
Before exclusion
Value of shares held (KRW mn)
-
Percentage in total assets (%)
-
After exclusion
Value of shares held (KRW mn)
-
Percentage in total assets (%)
-
4. Total number of subsidiaries
Before exclusion
6
After exclusion
3
5. Reasons for exclusion
Disposal of non-core subsidiaries other than the main business of the group
6. Date of exclusion
2022-04-01
7. Date of board resolution (decision date)
2021-05-11
- Attendance of outside directors
Present (No.)
3
Absent (No.)
-
- Attendance of auditors (members of Audit Committee who are not outside directors)
-
8. Other matters to be factored into investment decisions
-The above '1.D.Financial status of latest fiscal year' is based on the financial statements as of the end of 2021 of Rion Asset Development Co., Ltd.
-The details of our ownership share for the subsidiaries after exclusion under '4. Total number of Subsidiaries' are as follows.
(1) Orion: 37.37%
(2) Showbox: 57.50%
(3) ORION CORP.: 94.56%
-The decrease in the total number of subsidiaries in '4. before and after exclusion' above are the exclusion of Mega Mark, HighLand D&C, and Rion Asset Development, which were sold on the same day.
-The above '6. Date of exclusion' is as of the closing date of the transaction.
※ Related disclosure
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ORION Holdings Corp. published this content on 07 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2022 08:42:04 UTC.
Orion Holdings Corp is a Korea-based company mainly engaged in confectionery business. The Company operates its business through five segments. The Confectionary segment is engaged in the manufacture and sale of confectioneries and snacks such as biscuits and pies. The Video segment is mainly engaged in the businesses of investment and distribution of movies, planning and producing contents, and others. The Holding segment is mainly engaged in the businesses of selling brand royalties and renting buildings. The Other segment is mainly engaged in beverage business, information service business, investment and trade business. The Construction segment is engaged in construction and sales business. The Company sells products in domestic and overseas markets such as China and Southeast Asia.
ORION HOLDINGS CORP. 
