Sale of Shares of Sorak Financial Holdings Pte. Ltd.
2008-04-01On March 28, 2008, the board of directors of Kookmin Bank (“Kookmin”) passed a resolution to approve the sale of shares of Sorak Financial Holdings Pte. Ltd. (“SFH”). Details of the sale are as follows:
• Number of shares to be sold: 1,422,216 shares.
• Sale price: Won 374,954,949,642.
• Total number of shares of SFH to be owned by Kookmin following the sale: none
Purpose of sale: Realization of profit on investment.
Other relevant information:
- The sale price stated above is calculated as follows:
Share price of SFH (IDR 2,436,611.39) x 1,422,216 shares x Won 0.1082 (based on exchange rate in effect on March 28, 2008 (IDR 100 = Won 10.82)). The sale price is subject to change due to changes in the exchange rate.
- Kookmin plans to complete the sale of its shares of SFH before the end of the third quarter of 2008.
- Kookmin’s planned sale is subject to the sale by Fullerton Financial Holdings (“FFH”), the largest shareholder of SFH, of its SFH shares to Malayan Banking Berhad (“Maybank”). If FFH agrees to sell its shares of SFH to Maybank, Kookmin has a right to tag along in the sale. As a result, Kookmin’s planned sale of SFH shares is subject to change.
- This disclosure is related to the disclosure filed on March 27, 2008.