News
Notice of the Division Progress Report
DATE 2021.01.04
VIEW 2783
Notice of the Division Progress Report
(Substitution for Inaugural Meeting)
(Substitution for Inaugural Meeting)
Under the special resolution at the extraordinary meeting of shareholders held on December 4, 2020, the following were resolved: Daelim will perform the equity spin-off of its construction business division and establish DL E&C (new equity spin-off company) with the divided property; Daelim will perform the physical division of its petrochemical business division and establish DL Chemicals (new split-off company) with its divided property; After the division, Daelim will change its name to DL Co., Ltd. (remaining company from the division) and operate the investment business division aiming at managing the stakes in the subsidiary and invested company. According to the resolution, the remaining company from the division, the new spun-off company, and the new split-off company will collectively assume responsibility for the liabilities of Daelim before the division.
We hereby report the division-completion to each shareholder as we decided to replace the inaugural meeting for reporting with the resolution of the board of directors and this notice by substituting the inaugural meeting under Articles 530.11 and 527.4 of the Commercial Law, after completing the division procedures under the Commercial Law through the resolution above.
1. Details of the Division
2. Progress of the Division
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September 10, 2020:
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Board of directors’ approval for the division plan and resolution to convene the general meeting of shareholders
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October 15, 2020:
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Date of securities report presentation
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November 19, 2020:
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Notice of and informing the convocation of the general meeting of shareholders
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December 4, 2020:
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General meeting of shareholders’ resolution for the approval of the division plan
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December 4, 2020:
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Notice and informing date of reverse stock split
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January 1, 2021:
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Date of division
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January 4, 2021:
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The board of directors resolved to substitute the general meeting of shareholders with the division report through the notice on January 4, 2021 under Articles 530.11.1 and 527.4 of the Commercial Law.
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January 4, 2021
DL E&C Co., Ltd.
134, Tongil-ro (Pyeong-dong), Jongno-gu, Seoul, South Korea
CEO Ma, Changmin
