Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
This filing discloses an amendment to Hanwha Ocean’s planned sale of its entire 241.4M share stake in Singaporean offshore structure manufacturer Dyna-Mac to its affiliate SG Holdings, revising the disposal amount upward from KRW 149.3B to KRW 166.7B.
📊 [Key Disclosure Highlights & Summary]
- Filing Type: Decision on Disposal of Other Corporation Shares and Investment Securities (Amendment)
- Related Filing Submission Date: September 11, 2024
- Reason for Amendment: Revision of disposal amount
- Key Revisions:
- Total Shares Issued by Target: (Before) 1,115,364,667 shares → (After) 1,179,985,415 shares
- Disposal Amount: (Before) KRW 149,277,432,088 → (After) KRW 166,693,132,498
- Amount-to-Equity Ratio: (Before) 3.5% → (After) 3.9%
[Detailed Terms of Share Disposal]
- Target Company: Dyna-Mac Holdings Ltd. (Nationality: Singapore / Representative: LIM AH CHENG / Core Business: Offshore structure manufacturing / Relationship: None)
- Capital Stock: KRW 151,567,410,800 (As of FY2023-end, exchange rate SGD 1 = KRW 1,030.51)
- Disposal Details:
- Number of Shares to Dispose: 241,429,700 shares
- Disposal Amount: KRW 166,693,132,498 (Applied exchange rate SGD 1 = KRW 1,030.51 as of September 11, 2024)
- Total Equity: KRW 4,312,157,120,697 (Based on FY2023 consolidated financial statements)
- Amount-to-Equity Ratio: 3.9%
- Post-Disposal Shares & Ownership Ratio: 0 shares (0.0%)
- Purpose of Disposal: Investment portfolio restructuring (Transferring total holding to affiliate Hanwha Ocean SG Holdings Pte. Ltd.)
- Expected Disposal Date: December 2, 2024 (Expected final tender offer closing date for SG Holdings)
- Board Resolution Date: September 11, 2024 (4 Outside Directors present, 1 absent)
[Other Material Notes]
- Transaction Condition: Transaction takes effect upon confirmation that SG Holdings holds 50% + 1 share or more of Dyna-Mac common stock.
[Target Company Summary Financials (FY2023 Consolidated, Exchange Rate SGD 1 = KRW 1,030.51)]
- Total Assets: KRW 355,655,068,850 / Total Liabilities: KRW 283,231,551,460 / Total Equity: KRW 72,433,517,390
- Revenue: KRW 396,922,567,210 / Net Income: KRW 29,566,362,410 / Audit Opinion: Unqualified (Ernst & Young LLP)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Revised Disposal Value and Transaction Settlement
This amendment increases the sale price for transferring the Dyna-Mac stake to the affiliate, making it essential to monitor whether the transaction is finalized and the revised cash consideration is settled following the target date (December 2, 2024). Verifying these conditions is necessary to assess the fulfillment of closing requirements (securing a 50% + 1 share stake by the affiliate) and the resulting financial cash inflow. Relevant completion updates can be verified through future regular financial reports (Quarterly, Semi-Annual, or Annual Business Reports) or subsequent official public disclosures.
📢 Disclaimer & Source Notice
Source: This content was newly structured based on official data submitted to the Financial Supervisory Service’s DART system.
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