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Hankuk Carbon to Merge with Wholly-Owned Subsidiary

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Hankuk Carbon (KRX:017960) has agreed to merge with its wholly-owned subsidiary, Hankuk Global Solution, in a small-scale merger that will not involve the issuance of new shares.

The merger is aimed at improving operational efficiency, with Hankuk Carbon remaining as the surviving entity, according to a bourse filing on Friday.

As a small-scale merger under the Commercial Act, shareholder appraisal rights will not be granted, and the merger will be approved by the board rather than a general shareholders' meeting.

The merger ratio is set at 1.0000000:0.0000000, and the subsidiary is expected to be dissolved on Nov. 2.

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