Decision to Invest 24.66 Billion KRW in Subsidiary SNC for Nickel Smelter Working Capital
Decision to inject 24.66 billion KRW (17 million USD) cash into subsidiary SNC (nickel investment), equivalent to 33.03% of parent's equity.
Purpose: provide operating funds for SNC and working capital for nickel smelter (PT Fajar Metal Industry) via its parent EII.
After acquisition, parent's stake in SNC reaches 100% (additional 17,000,000 shares on top of existing 42,010,000 shares).
SNC is a newly established company; current year assets 365.6 billion KRW, liabilities 304.7 billion KRW (including USD 210 million acquisition financing), equity 60.9 billion KRW, no revenue or net income.
The transaction supports working capital for PT Fajar Metal Industry, the nickel smelter operator whose 100% stake is held by EII (subsidiary of SNC).
KOSDAQ Filing Information
Filing: Decision on Acquisition of Stocks and Investment Securities of Other Corporations