Fact Source: Financial Supervisory Service DART / KOSCOM
💡 3-Second Summary
This filing discloses an amendment to Hanwha Ocean’s business acquisition plan, postponing the acquisition date of the wind power business to October 1, 2024, and executing an indemnity agreement with Hanwha Corporation for potential liquidated damages regarding the plant construction contract up to 10% of the total contract value.
📊 [Key Disclosure Highlights & Summary]
- Filing Type: Other Management Matters (Voluntary Disclosure – Amendment)
- Related Filing Submission Date: April 3, 2024
- Reason for Amendment: Change in expected acquisition date for the wind power business and addition of material disclosure items
[Key Amendments & Added Items]
- Postponement of Wind Power Business Acquisition Date: (Before) July 1, 2024 → (After) October 1, 2024
- Execution of Agreement on Liquidated Damages for Plant Business Acquisition (Dated July 1, 2024):
- If Hanwha Ocean pays liquidated damages to the counterparty under the transferred plant construction contract, Hanwha Corporation will compensate Hanwha Ocean for the corresponding amount as damages.
- Indemnity Cap: Capped at the maximum liquidated damages threshold under the construction contract (10% of total contract value).
- Status: Occurrence and amount of liquidated damages remain unconfirmed as of the filing date and will be updated via a corrective disclosure once determined.
[Detailed Acquisition Terms]
- Purpose of Acquisition: Strengthening business competitiveness through the acquisition of wind power and plant businesses
- Transferor: Hanwha Corporation (Affiliate of Hanwha Ocean)
- Board Decision Date: April 3, 2024
- Wind Power Business Acquisition
- Scope of Acquisition: Assets, liabilities, contracts, and permits related to the wind power business
- Acquisition Price: KRW 188.1B (Subject to net asset settlement within 2 months of closing)
- Ratio to Recent Total Assets: 1.3% (Based on FY2023 consolidated assets of KRW 13.945T)
- Expected Acquisition Date: October 1, 2024
- Plant Business Acquisition
- Scope of Acquisition: Assets, liabilities, contracts, and permits related to the plant business
- Acquisition Price: KRW 214.4B (Subject to net asset settlement within 2 months of closing)
- Ratio to Recent Total Assets: 1.5%
- Expected Acquisition Date: July 1, 2024
[Other Material Notes]
- This transaction does not fall under Article 374 of the Commercial Code and does not require shareholder approval.
- The single sales and supply contract disclosed by Hanwha Corporation on February 19, 2024, will also be transferred to Hanwha Ocean in connection with the wind power business acquisition.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Wind Power Acquisition Schedule and Plant Contract Liquidated Damages Confirmation
This amendment postpones the expected acquisition date for the wind power business to October 1, 2024, and details an indemnity agreement covering potential liquidated damages for the plant construction contract. It is essential to monitor whether the wind power business transfer closes according to the revised schedule and track whether any liquidated damages are officially determined for the plant construction contract. Verifying these developments is necessary to evaluate the final transfer timeline and risk management coverage. Relevant progress updates and settlement details can be confirmed 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 and KOSCOM.
Investment Risk Warning: This content is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest solely with the investor.
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