Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hyundai Motor disclosed a correction regarding its participation in the rights issue of its subsidiary, 42dot Inc., updating the total shares to be acquired to 5,042,099 shares for KRW 650.43B following changes in the target company’s business plan.
📊 [Key Disclosure Contents & Major Figures Summary]
- Correction Overview
- Corrected Document: Decision on Acquisition of Shares and Equity Securities of Other Corporation (Voluntary Disclosure) (Originally filed on May 26, 2023)
- Date of Correction: 2024-06-04
- Reason for Correction: Adjustments to phased payment schedules and share amounts due to changes in 42dot Inc.’s business plan
- Key Corrected Details (Acquisition & Shareholding)
- Shares to be Acquired: (Before) 4,980,001 shares ➔ (After) 5,042,099 shares (+62,098 shares)
- Acquisition Amount: (Before) KRW 642,420,000,000 ➔ (After) KRW 650,431,000,000 (+KRW 8,011,000,000)
- Ratio to Total Equity: (Before) 0.71% ➔ (After) 0.72% (+0.01%p)
- Total Shares Owned After Acquisition: (Before) 7,509,160 shares ➔ (After) 7,571,258 shares
- Equity Ratio After Acquisition: (Before) 56.49% ➔ (After) 56.93% (+0.44%p)
- Target Company & Transaction Structure
- Target Company: 42dot Inc. (Subsidiary of Hyundai Motor, SDV Software Developer)
- Acquisition Method: Cash acquisition via participation in shareholder-allocated rights offering
- Issue Price per Share: KRW 129,000
- Phased Payment Schedule:
- Tranche 1 (Completed): Payment Date 2023-05-30 / 1,610,413 shares / KRW 207,743M
- Tranche 2 (Corrected): Scheduled Date June 2024 / 1,179,564 shares / KRW 152,164M (Previously: Around Jan 2024, 1,755,957 shares, KRW 226,518M)
- Tranche 3 (Corrected): Scheduled Date During 2025 / 2,252,122 shares / KRW 290,524M (Previously: Around Jan 2025, 1,613,631 shares, KRW 208,158M)
- Other Important Notes
- Total equity figure (KRW 90,896,545,000,000) is based on 2022 consolidated financial statements.
- Tranches 2 and 3 remain subject to potential adjustments during the capital raise process.
- Replaces previous clarification disclosures regarding media reports dated December 5, 2022.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Phased Capital Injection Execution and Final Shareholding Ratio
This corrected disclosure reflects revisions to the schedule and scale of Tranches 2 and 3 capital contributions following business plan changes at subsidiary 42dot Inc. Checking whether the revised payments are completed as scheduled in June 2024 for Tranche 2 and during 2025 for Tranche 3 is important for determining whether the transaction has been fully executed. Further details can be verified in future official disclosures, such as subsequent corrective filings or Quarterly, Half-Year, and Annual Reports.
📢 Disclaimer & Source Information
Source: This content was structured and generated based on official submission data from the Financial Supervisory Service DART system.
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