2024 Semiannual Report Content Added
Some Expressions Revised...Content Changed
Doosan Robotics has resubmitted the securities registration statement related to its merger with Doosan Bobcat. With the submission of the amended registration statement, the effective date has been postponed once again from the 17th to the 28th of this month.
According to the Financial Supervisory Service's electronic disclosure system on the 16th, Doosan Robotics voluntarily submitted the corrected securities registration statement after the market closed that day.
The merger schedule was delayed as the financial authorities requested the resubmission of the securities registration statement related to the merger, and additional content based on the 2024 semi-annual report was also reflected.
Some expressions were also revised. For example, the statement in the registration on the 16th read, "If Doosan Robotics and Doosan Bobcat are not a single company, synergy creation will be limited due to shareholder interests, and conflicts of interest among shareholders regarding internal transactions between the two are inevitable," but the phrase "inevitable" was replaced with "may occur."
Parts mentioning the positive effects of the change in governance structure resulting from the merger, whereby Doosan Bobcat becomes a direct subsidiary of the holding company Doosan instead of a former grandchild company, were also deleted. The section anticipating that restrictions on mergers and acquisitions (M&A) as a grandchild company under the Fair Trade Act would be resolved through the merger was removed as well.
The Financial Supervisory Service is currently reviewing the amended registration statement, which includes the spin-off merger with Doosan Enerbility and the comprehensive stock exchange and transfer with Doosan Bobcat. Last month, the FSS requested corrections to the registration statement, citing insufficient descriptions regarding the background, purpose, and effects of the merger. On the 8th, Lee Bok-hyun, Governor of the Financial Supervisory Service, also stated during a back briefing after a meeting with asset management company CEOs, "If there are deficiencies in the amended registration statement, we will request corrections without limit on the number of times."
With Doosan Robotics submitting the amended registration statement, the effective date of the registration statement has been postponed once more from the 17th to the 28th of this month. The FSS's acceptance will be decided the day before the effective date.
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