Exercise Period of Appraisal Rights(Aug. 30, 2001)
2001-08-30On August 29, 2001, H&CB disclosed the exercise period of appraisal rights of shareholders pursuant to the contemplated merger with Kookmin Bank. Holders of H&CB common stock are entitled to appraisal rights under Korean law. Details are as follows:
• Record Date: August 8, 2001
• Shareholders’ Meeting: September 29, 2001
• Purchase Price: 22,441 Won for a common share
Shareholders Eligible to Exercise Appraisal Rights in Detail
Appraisal rights in connection with the merger are granted to shareholders who
i were listed on the shareholder registry as of August 8, 2001;
ii submit to H&CB a written notice of their intention to dissent to the merger by September 28, 2001;
iii submit to H&CB a written request to purchase their shares from October 6 to October 15, 2001; and
iv hold the shares from August 8, 2001 to the exercise date of the appraisal rights.
The above schedule and information relating to the appraisal rights are subject to change in the course of consultation with the shareholders, if necessary.
Please note that holders of H&CB American depositary shares will not have any appraisal rights in respect of the merger, since they are not holders of record of the underlying H&CB common stock.