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Resolution on Disposal of Treasury Shares

2019.10.24 No. 898

 

HYUNDAI MOTOR COMPANY (HMC)

Corporate Disclosure to Korea Exchange

 

 

Disclosure Title  :  Resolution on Disposal of Treasury Shares 

 

1.Number of stocks to be disposed : 778,575 common shares

.

2.The price of a share to be disposed : KRW 121,000

 

3.Expected disposal amount : KRW 94,207,575,000

 

4.Scheduled date of share disposal : November 29, 2019 ~ November 29, 2019

 

5.Purpose of disposal : To transfer treasury stocks to employee stock ownership association

 

6.Method of disposal : Over-the-counter transfer

 

7.Securities firms commissioned : Hyundai Motor Securities

 

8.Board Resolution date      :  October 24, 2019

* 6 external directors were present for the board decision.

 

9.Notes

 

a. Treasury shares have been acquired and will be transferred to the employee stock ownership association, therefore numbers of stocks to be disposed may subject to change depending on the number of current employees on the date of actual disposal. 

 

b. (No.3) The “Expected disposal amount” has been calculated by multiplying the number of shares to be acquired by the closing price of common share the day before the board decision date. The amount is subject to change based on shift in share price. (Closing price of common share on October 23, 2019 : KRW 121,000) 

 

c. (No.8) Audit committee consists of all External directors (All attended).


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