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, moving the scheduled disposal date forward from December 2, 2024, to November 26, 2024.
📊 [Key Disclosure Highlights & Summary]
- Filing Type: Decision on Disposal of Other Corporation Shares and Investment Securities (Amendment)
- Related Filing Submission Date: October 14, 2024
- Reason for Amendment: Change in expected disposal date, correction of total shares issued, and deletion of notes in major items
- Key Revisions:
- Total Shares Issued by Target: (Before) 1,179,985,415 shares → (After) 1,254,166,969 shares
- Expected Disposal Date: (Before) December 02, 2024 → (After) November 26, 2024
- Text Removed: Deletion of the clause mentioning “The transaction takes effect upon confirmation that SG Holdings holds 50% + 1 share or more of Dyna-Mac, marking the final expected tender offer closing date.”
[Detailed Terms of Share Disposal]
- Target Company: Dyna-Mac Holdings Ltd. (Nationality: Singapore / 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: November 26, 2024
- Board Resolution Date: September 11, 2024 (4 Outside Directors present, 1 absent)
[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)
📌 Completion of Share Disposal and Proceeds Settlement
This amendment advances the timeline for transferring the Dyna-Mac stake to the Singaporean subsidiary, making it essential to monitor whether the share sale completes smoothly and the disposal proceeds are settled after the revised target date (November 26, 2024). Verifying transaction completion is crucial to evaluate actual cash inflow and the formal status of internal portfolio restructuring. Relevant details 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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