Approval of the Merger with KCC by the Board of Directors
2003-07-25On July 23, 2003, the board of directors (the “Board”) of Kookmin Bank has officially approved the small-scale merger (the “Merger”) between Kookmin Bank (“KB”) and Kookmin Credit Card (“KCC”) following its resolution on the Merger on May 30, 2003.
This approval is pursuant to Article 527-3 of the Korean Commercial Code, which prescribes that approval of small-scale merger may be obtained by board of directors instead of shareholders.
Followings are the key information regarding the Merger approved by the Board, which is the same as previously disclosed in the “Merger Summary” on May 30, 2003.
1. Merger date: September 30, 2003
2.Merger ratio: 0.442983 (KB) : 1 (KCC)
3. Merger method: KCC will be merged into KB, and will be ceased to exist after the completion of the Merger.