NOTICE OF CREDITORS’ OBJECTION AGAINST SPLIT-OFF
The Set-Top Box Business Unit of WOOJEON
& HANDAN CO., LTD. shall be divided from WOOJEON & HANDAN CO., LTD. (hereinafter
referred to as “the Company” or “Surviving Company”) and become a separate
entity (“Split New Company”), and the Company shall be survived in accordance
with Article 530-3 of Commercial Law by the resolution at the extraordinary
general meeting of stockholders dated Jan. 20, 2015. After split-off, the Split
New Company shall be responsible for only the liabilities incurred or to be
incurred in relation to the business (Set-Top Business) to be transferred due
to split-off out of the Company’s liabilities, but not be liable to reimburse,
as a joint and several liability, the liabilities (including surety obligations)
of the Company not to be transferred to Split New Company. Provided, however,
that the Split New Company shall be jointly and severally responsible for the liabilities
(including surety obligations) of the Company not to be transferred to it until
the Company sells the Split New Company and the dominant-subordinate
relationship between the parties is terminated. If you as creditors have
objections to this split-off, please submit an objection within one (1) month
from the next business day following this notice.
- Details -
1. Period of formal objection: from Jan.
22 through Feb. 23, 2015
2. Place for formal objection: Head
Office
3. Date of Split-Off: Feb. 24, 2015
On this 21stDay January, 2015
WOOJEON & HANDAN CO., LTD.
4F. 18, Seolleung-ro 93-gil, Gangnam-gu, Seoul,
Korea
Representative
Director Y.K.LEE
Transfer Agent Korea Securities Depository
