Hanon Systems EFP Corp. Decides to Absorb Wholly-Owned Subsidiary - No Capital Change via Zero-Issuance Merger
Hanon Systems EFP Corp. (surviving) resolves to absorb its wholly-owned subsidiary Hanon Systems EFP Korea Corp. (disappearing) (board resolution date: 2026-05-12)
Purpose: enhance management efficiency and strengthen business competitiveness
Merger ratio 0.0000000 (no new shares issued, zero-capital-increase merger), no change in surviving company's capital stock
Merger date: 2026-07-01, general shareholders' meeting expected on 2026-05-29
Disappearing company (FY2025): assets 104.7bn won, liabilities 56.2bn won, equity 48.5bn won, net loss 4.2bn won
No appraisal rights exercisable (100% subsidiary)
Subsidiary's total assets approx. 2.86 trillion won, 10.73% of parent company's consolidated assets
KOSPI Filing Information
Filing: Decision on Merger of Companies (Major Management Matters of Subsidiary)