POSCO : Adjustment of Conversion Price, Exercise Price of Preemptive Rights, and Exchange Price - Form 6-K
08/12/2022 | 01:05pm EDT
Adjustment of Conversion Price, Exercise Price of Preemptive Rights, and Exchange Price
Adjustment of exchange price
2. Class of Bonds
Foreign currency denominated exchangeable bonds
(Issued September 1, 2021)
• Listing of Warrants
3. Details of Adjustment
Pre-adjustment price (KRW)
Post-adjustment price (KRW)
4. Changes in Securities
Total par value (electronic registration) of non-exercised securities (KRW)
Number of shares available for conversion, exercise, and exchange before adjustment (shares)
Number of shares available for conversion, exercise, and exchange after adjustment (shares)
5. Reasons for Adjustment
Adjustment of exchange price following cash dividend of POSCO HOLDINGS INC.
6. Basis and Method for Adjustment
1) Grounds for adjustment: Adjustment of the exchange price following cash dividends
• In the event of any reasons for adjustment of the exchange price, such as capital increase without consideration, stock split, reverse stock split, change of stock class, issuance of options or warrants to shareholders, stock dividends, cash dividends, issuance of new shares below market price, etc., the exchange price will be adjusted according to the relevant bond conditions.
2) Method of adjustment
Post adjustment adjusted price = Pre adjustment adjusted price X[(*Current market price - Cash dividends equivalent to 1 share)/*Current market price]
7. Effective Date of Adjusted Price
July 1, 2022
8. Date of Board Resolution (Decision Date)
• Attendance of Outside Directors
• Attendance of Auditors(members of Audit Committee)
9. Other references useful for making investment decisions
• "Total par value (electronic registration) of non-exercised securities (KRW)" of "4. Changes in Securities" above was converted into KRW by applying the standard exchange rate (standard exchange rate of 1,360.32 EUR/KRW announced by Seoul Foreign Exchange Brokerage Co., Ltd. on August 13, 2021).
• 'Current market price' of "6.2 Method adjustment" above means the amount obtained by taking an arithmetic average of the closing prices of 20 trading days until the immediately preceding trading day, including the immediately preceding trading day of the date started, with the trading day immediately preceding the date of disclosure of the initial dividend being the date started.
• Above "7. Effective Date of Adjusted Price" will take effect retroactively on June 30, 2022 which is immediately after the record date for the 2nd quarter 2022 (July 1, 2022).
POSCO Holdings Inc. published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 17:04:01 UTC.