Notice
2021.01.04
Public Announcement of Company Division Progress Report
Public Announcement of Division Progress Report (substituting the foundation conference)
Daelim Co., Ltd. established DL E&C Co., Ltd. (new equity spin-off company) with the divided property by spinning off the construction business sector from Daelim Co., Ltd.’s business sectors and established DL Chemical Co., Ltd. (new captive spin-off company) with the divided property by performing the physical division of the petrochemical business sector. After the divisions, Daelim Co., Ltd. changed its name to DL Holdings Co., Ltd. (surviving company), and it was decided to operate the investment business sector to manage the stakes of subsidiaries and investee companies. Regarding the debts of Daelim Co., Ltd. prior to the company division, it was decided that the surviving company, new equity spin-off company, and new captive spin-off company would collectively take responsibility.
Based on the resolutions above, it was decided that the foundation reporting conference would be replaced with the decision of the board of directors and the public announcement in substitution for the foundation conference in accordance with Articles 530.11 and 527.4 of the Commercial Law, after the division procedures were completed. Completion of the division is hereby reported to each stockholder.
1. Details of division
| Classification | Company Name | Business Sector | Remarks |
| Surviving company | DL Holdings Co., Ltd. | Investment consulting to manage the stakes of subsidiaries and investee companies | Listed corporation |
| New equity spin-off company | DL E&C Co., Ltd. | Construction business sector | Listed corporation |
| New captive spin-off company | DL Chemical Co., Ltd. | Petrochemical business sector | Unlisted corporation |
2. Division progress
September 10, 2020: The board of directors decided to approve the division plan and convene an extraordinary stockholders’ meeting
October 15, 2020: Presentation date of the securities report
November 19, 2020: Public announcement and notification of the annual stockholders’ meeting
December 4, 2020: Approval of the division plan was decided at the annual stockholders’ meeting.
December 4, 2020: Public announcement and notification date of stock consolidation
January 1, 2021: Day of the company division
January 4, 2021: The board of directors decided to substitute the annual stockholders’ meeting for division report with the public announcement on January 4, 2021 under Articles 530.11.1 and 527.4 of the Commercial Law.
January 4, 2021
DL E&C Co., Ltd.
134 (Pyeong-dong), Tongil-ro, Jongro-gu, Seoul, ROK
Ma Chang-min
CEO
DL E&C Co., Ltd.
134 (Pyeong-dong), Tongil-ro, Jongro-gu, Seoul, ROK
Ma Chang-min
CEO
