Notice in Lieu of Founding General Meeting
Notice in Lieu of Founding General Meeting
SK Networks Co., Ltd. (hereinafter "SK Networks") resolved at an extraordinary general meeting held on August 7, 2024, to establish SK Speedmate Co., Ltd. (hereinafter "SK Speedmate") through a physical spin-off of the Speedmate business division from SK Networks' operations as follows, and completed the spin-off and establishment procedures prescribed by the Commercial Act in accordance with this resolution. Accordingly, SK Speedmate announces the progress of the spin-off as follows, as resolved by the board of directors to substitute this announcement for the founding general meeting pursuant to Article 530-11 and Article 527, Paragraph 4 of the Commercial Act.
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1. Content of Spin-off
| Category | Company Name | Business Division |
|---|---|---|
| Spin-off Company | SK Networks Co., Ltd. | All business divisions except Speedmate business division |
| New Company | SK Speedmate Co., Ltd. | Speedmate business division (automotive care, franchise business, etc.) |
2. Spin-off Progress
| Category | Date |
|---|---|
| Board Resolution Date | June 17, 2024 |
| Shareholders' Meeting Date for Approval of Spin-off Plan | August 7, 2024 |
| Spin-off Date | September 1, 2024 |
| Board Resolution Date for Notice in Lieu of Founding General Meeting | September 2, 2024 |
| Spin-off Registration Application Date (Scheduled) | September 2, 2024 |
3. Reference Information
The spin-off is conducted by special resolution of the shareholders' meeting pursuant to Article 530-3, Paragraphs 1 and 2 of the Commercial Act,
and pursuant to Article 530-9, Paragraph 1 of the Commercial Act, the new company or the spin-off company shall be jointly and severally liable for the debts of the spin-off company before the spin-off.
September 2, 2024
SK Speedmate Co., Ltd.
19, Gyeongsu-daero 967beon-gil, Jangan-gu, Suwon-si, Gyeonggi-do (Songjuk-dong)
CEO Moo In Ahn