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Investors News

Equity Investment in Major Shareholder

2005.08.02 No. 362
1.Name of investment recipient : Hyundai Card (HC)
- Relationship with Company : Affiliate
2. Details of Investment:
- Investment amount : KRW 142,559,280,000
- Method of Investment : Participation in rights offering (undertaking of new shares)
- Object of investment : 20,842,000 common shares of Hyundai Card
- Total shareholding in HC: 33.3% Total investment amount in HC : KRW 200,718,280,000
- Accumulated balance of investment for HC for CY 2005 : KRW 142,599,280,000
- 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 Investment date (tentatively the end of October 2005) is after completion of sale of Hyundai Card’s shares.
- The “Investment amount” above in #2 has taken into assumption the reduction of capital (by half) for Hyundai Card.
- The “total investment amount in HC” in #2 above are calculations of the sum of the estimated investment amount after the sale of Hyundai Card’s share owned by Hyundai Motor Company (based on the book value as of the end of the 1 st quarter 2005) and the expected amount for participation in the rights offering concerned above; the total investment shareholding may be subject to change depending on the result of the right offering.
- The above contents are subject to change depending on process for the sales of shares and related regulation.
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