POSCO : Notice of Exclusion of Subsidiary in Holding Company - Form 6-K
December 21, 2022 at 07:19 am EST
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Notice of Exclusion of Subsidiary in Holding Company
1. Details of subsidiary
A. Company name
Pohang Special Welding Co., Ltd.
B. Representative
Yoon, Tae-Han
C. Main business
Production and sales of welding materials for plates and STS strategic steel grades
A. Financial status of latest fiscal year (million KRW)
Total assets
8,391
Total liabilities
1,216
Total shareholders' equity
7,175
Capital stock
8,000
2. Shareholding ratio of subsidiary
Before exclusion
Shares held
400,000
Shareholding ratio (%)
50.0
After exclusion
Shares held
-
Shareholding ratio (%)
-
3. Percentage of value of shares held to total assets
Before exclusion
Value of shares held (million KRW)
3,077.60
Percentage in total assets (%)
0.0
After exclusion
Value of shares held (million KRW)
-
Percentage in total assets (%)
-
4. Total number of subsidiaries
Before exclusion
17
After exclusion
16
5. Reasons for exclusion
Disposal of equity
6. Date of exclusion
December 20, 2022
7. Date of board resolution (decision date)
November 4, 2022
8. Other matters to be factored into investment decisions
• Pohang Special Welding Co., Ltd. which is a subsidiary of POSCO HOLDING will change its status to sub-subsidiary. However, under the Fair Trade Act, its status as an affiliate of business group will be remained the same.
• 'Value of shares held' after inclusion under 3. Percentage of value of shares held to total assets is disposal value on the contract.
• 'Percentage in total assets' before and after inclusion under 3. 'Percentage of value of shares held to total assets' is the share of the disposal value to the total assets of the financial statements of POSCO HOLDINGS after the Spin-off (on Quarterly Report of 1st quarter of 2022)
• Above '6. Date of exclusion' is the receive date of payment for the shares.
• This disclosure is part of the transactions in which POSCO, a steel business subsidiary of POSCO HOLDINGS acquiring the shares of steel-related businesses previously owned by POSCO HOLDINGS in order to improve the management efficiency of the steel business as a following step of the vertical spin-off on March 2022.
ø Related disclosure
Important Notice of the Company Management (Disclosure of POSCO HOLDINGS' Subsidiary Company POSCO) disclosed on November 4, 2022
POSCO Holdings Inc. published this content on 21 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2022 12:18:03 UTC.
Posco Holdings Inc, formerly Posco, is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates its business through four segments. The Steel segment produces and sells steel products such as hot rolled steel, cold rolled steel, stainless steel, among others. The Trading segment engages in the global trade, including the export and import of steel products. The Engineering and Construction (E&C) segment plans, designs and builds industrial plants, civil engineering projects, commercial and residential buildings. The Other segment is engaged in the power plants, information and communication related services and other businesses.
POSCO HOLDINGS INC. 
