We have received the official notification document from Korea Deposit Insurance Corporation for the approval regarding Hyundai Autonet share acquisition
1. Contents :
The Public Fund Oversight Committee and the BOD for the Korea Deposit Insurance Corporation(KDIC)has approved the sale of Hyundai Autonet’s share to the consortium of Hyundai Motor Company(HMC) and Siemens
2. 1) Number of shares to be transacted:
77,740,000 common shares of Hyundai Autonet
- Expected number of share to be acquired by HMC : 38,870,000 shares (50% of total shares to be sold)
2) Expected unit price for transaction : KRW 3,050 per share
3. Receipt date of the official notification document from KDIC: Friday, July 29, 2005
4. Others
The above transaction is a precondition for the approval by the Fair Trade Commission, and other matters related to the transactions may be subject to change depending on the progression of the transaction contract.
Name of Disclosure Officer : Yoo No Hwang,
Director, Head of Financial Management Group
* Date of Related Disclosure
(Korea Stock Exchange): January 17, 2005 & March 09, 2005
