Hanwha Corp.'s spinoff schedule, which will separate the company into a surviving entity focused on defense, shipbuilding, energy and finance, and a newly established entity centered on tech and life (machinery and distribution), has been pushed back by about a month.
According to Hanwha on the 14th, an extraordinary shareholders' meeting to approve the spinoff plan will be held at 10 a.m. on July 15 at the Royal Hotel in Jung-gu, Seoul. The meeting, originally scheduled for June 15, has been delayed by one month, causing the remaining schedule to shift accordingly.
The spinoff date has been postponed from July 1 to August 1. The scheduled date for the modified listing of the surviving company and the relisting of the newly established holding company, Hanwha Machinery & Service Holdings (tentative name), has been adjusted from July 24 to August 25.
The spinoff ratio has also been revised following the cancellation of treasury shares held by the company. The ratio has changed from 0.7634722 for the surviving company to 0.2365278 for the new company, to 0.7563533 and 0.2436467, respectively.
