SHINWON CONSTRUCTION COMPANY Ltd announced a private placement of Round 54 non-guaranteed private equity convertible bonds with bearer type interest part for gross proceeds of KRW 7,500,000,000 and Round 53 Unregistered coupon nonguaranteed private convertible bond for gross proceeds KRW 7,500,000,000 for aggregate proceeds of KRW 15,000,000,000 on November 8, 2021. The transaction included participation from Hinds Co., Ltd for round 54 bonds and Balancers Co., Ltd. for bonds for 53 bonds. Both bonds carry a fixed surface interest rate of 3% and maturity interest rate of 3%.

Both bonds will mature on December 23, 2024. The company will pay the interest every 3 months from the issue date. Both bonds are 100% convertible at a fixed conversion price of KRW 9,190 per share.

Upon the conversion of the bonds the company will issue 816,104 common shares. The conversion period will start on January 23, 2023 and end on November 23, 2024. The company expects to close the transaction on December 23, 2021.

The transaction was approved by the board of directors of the company. The securities issued are subjected to one year hold period and are issued at par value.