HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Exchange
Disclosure title : Resolution on Acquisition of Treasury Stock
1. Number of shares to be acquired
|
Type of Shares |
Number of Shares |
|
Common |
778,575 |
|
Preferred |
– |
2. Expected acquisition amount
|
Type of Shares |
Acquisition Amount (in KRW) |
|
Common |
94,207,575,000 |
|
Preferred |
– |
3. Expected period of acquisition : October 25, 2019 ~ November 27, 2019
4. Expected period of holding : October 25, 2019 ~ November 29, 2019
5. Purpose of acquisition : To transfer treasury stocks to employee stock
ownership association
6. Method of acquisition : Market purchase
7. Security firm commissioned : Hyundai Motor Securities
8. Treasury stock holdings at the time of disclosure (prior to acquisition)
|
Type of shares |
Number of shares |
% of total shares issued |
|
Common |
10,953,667 |
5.1% |
|
Preferred |
2,956,430 |
4.7% |
9. Date of board decision : October 24, 2019
* 6 external directors were present for the board decision.
10. Order limit per day : 126,413 common shares
11. Notes
(No.1) Preferred shares include 243,566 shares of preferred 1, 364,854 shares of preferred 2, and 24,287 shares of preferred 3.
(No.2) The “Expected acquisition amount” has been calculated by multiplying the number of shares to be acquired by the closing price of common share the day before the board decision date. The amount is subject to change based on shift in share price. (Closing price of common share on October 23, 2019 : KRW 121,000)
(No.4) Related to ‘Expected period of holding’ above, after acquisition of Treasury Stock, shares are to be transferred to employee stock ownership association.
(No.9) Audit committee consists of all External directors (All attended).
(No.10) Order limit per day for preferred shares is decided by selecting less quantity between 2 options, [more quantity between I and II] and [III]. (I) 10% of total shares to be acquired, 77,857 shares (II) 25% of average daily trade volume during 1 month period ending 1 day before the board resolution date, 126,413 (III) 1% of total outstanding shares, 2,136,681