3 March, 2015 - AMOREPACIFIC Corp. and AMOREPACIFIC Group announced today that the Board of Directors of the companies passed a resolution approving a ten-for-one split of the companies’ common stocks and preferred stocks.
AMOREPACIFIC Corp. and AMOREPACIFIC Group’s share prices have been steadily increasing based on the companies’ sound management and financial results. (As of end of February 2015, AMOREPACIFIC common stock price increased 179% YoY. AMORE G common stock price increased 167% during the same period.) On 24 February 2015, a share of AMOREPACIFIC stock price reached KRW 3,000,000 during trading hours for the first time.
AMOREPACIFIC Corp. and AMOREPACIFIC Group expects the decision to split stocks will result in increase of liquidity and the number of transactions, making the companies’ stocks more accessible to a larger number of individual investors and providing greater liquidity and cashability for existing shareholders.
All issued shares of AMOREPACIFIC Corp and AMOREPACIFIC Group’s common stocks and preferred stocks will be subjected to the split. The current face value per share at KRW 5,000 will be split ten-for-one to KRW 500.
AMOREPACIFIC and AMORE G stocks will be suspended from trading from 22 April, 2015 until one day prior to listing of new share certificates. New share certificates will be delivered on 4 May, 2015 and listed on 8 May, 2015.
[NOTE] AMOREPACIFIC/ AMORE G Stock Split Summary
- Changes in the Face Value per Share and Number of Shares Issued
|Face value / Share||5,000원|
|No. of Shares issued||5,845,849||1,055,783||7,979,098||911,097|
|Face value / Share||500원|
|No. of Shares issued||58,458,490||10,557,830||79,790,980||9,110,970|
*AMORE G preferred stock consists of preferred stock 1 and preferred stock 2. The number of issued AMORE G preferred stocks is the sum of 644,377 stocks for preferred stock 1(002795) and 266,720 stocks for preferred stock 2 (delisted from Korea Exchange on July 1, 2014).
- Tentative Schedule
|Procedure||Scheduled Date/ Period|
|1||Board of Directors Resolution||3 March, 2015|
|2||Shareholders’ Meeting||20 March, 2015|
|3||Tendering of Existing Shares||From 23 March, 2015 To 23 April, 2015|
|4||Suspension of Trading||From 22 April 2015 To one day prior listing of new share certificates|
|5||Closing of Shareholder Registry||From 24 April, 2015 To 3 May, 2015|
|6||Delivery of New Share Certificates||4 May, 2015|
|7||Listing of New Share Certificates||8 May, 2015|