Visit Hyundai in your country/region
Font Size
Investors News

Disposal of Investment Shares in Major Shareholder

2005.08.02 No. 365
1.Name of investments shares recipient :
GE Capital Corporation, GE Capital International Holdings Corporation
- Relationship with Company : -
2. Details of Disposal:
- Object of disposal : 26,797,000 common shares of Hyundai Card
- Amount of disposal : KRW 203,657,200,000
- Purpose of disposal : For strategic alliance with GE Capital
- Appraisal amount for disposal shares: KRW 52,415,000,000
- Total shareholding after disposal: 31.0% Total investment amount after disposal: KRW 58,159,000,000
- Accumulated balance of disposal shares for HC for CY 2005 : KRW 203,657,200,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
3. Date of BOD Resolution : August 02, 2005
- Attendance of Outside Directors : 2 out of 4
- Attendance of auditors: 2 out of 3 were present
* Hyundai Motor Company’s audit committee members are all outside directors
4. Others:
- The “Shareholder’s Equity as of end of 2004” in #2 above represents the amount approved at the 37 th Annual General Meeting of Shareholders(March 04,2005) reflecting the effects of Kia Motors Corporation’s(a subsidiary under Hyundai Motor Company) change in its accounting policy
- The expected disposal date (tentatively the end of September 2005)is after completion of the contract for sales of Hyundai Card’s share
- The “Object of disposal” above in #2 has taken into assumption the reduction of capital (by half) for Hyundai Card
- The “amount of disposal” above in #2 may be subject to change depending on changes in future financial conditions of Hyundai Card.
- The “Appraisal amount for disposal shares” and “Total investment amount after disposal” in #2 above are based on the book value as of the end of the 1 st quarter 2005
- The above contents are subject to change depending on process for the sales contract and related regulation.
notice close