POSCO : Notice of Exclusion of Subsidiary in Holding Company - Form 6-K
January 04, 2023 at 11:28 am
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Notice of Exclusion of Subsidiary in Holding Company
1. Details of subsidiary
A. Company name
POSCO ENERGY Co., Ltd
B. Representative
Jeong, Ki-Seop
C. Main business
Sale of electricity, lease of LNG terminal, sale of fuel cell power generation facilities, lease and services, etc.
A. Financial status of latest fiscal year (million KRW)
Total assets
4,354,140
Total liabilities
2,774,377
Total shareholders' equity
1,579,763
Capital stock
269,190
2. Shareholding ratio of subsidiary
Before exclusion
Shares held
40,235
Shareholding ratio (%)
89.0
After exclusion
Shares held
-
Shareholding ratio (%)
-
3. Percentage of value of shares held to total assets
Before exclusion
Value of shares held (million KRW)
658,176
Percentage in total assets (%)
1.2
After exclusion
Value of shares held (million KRW)
-
Percentage in total assets (%)
-
4. Total number of subsidiaries
Before exclusion
17
After exclusion
16
5. Reasons for exclusion
Dissolution of POSCO Energy due to its merger with and into POSCO International
6. Date of exclusion
January 2, 2023
7. Date of board resolution (decision date)
November 4, 2022
8. Other matters to be factored into investment decisions
• 'Value of shares held' before exclusion under 3. Percentage of value of shares held to total assets is book value of POSCO Energy on POSCO HOLDINGS' business report of FY 2021.
• 'Percentage in total assets' before and after exclusion under 3. 'Percentage of value of shares held to total assets' is the share of the book value to the total assets of the financial statements of POSCO HOLDINGS after the Spin-off (on Quarterly Report of 1st quarter of 2022).
• Above '6. Date of exclusion' is the date of registration of merger.
• Above '7. Date of board resolution (decision date)' is date of the general shareholders' meeting of POSCO Energy related to the merger approval.
• This disclosure is to consolidate the energy business within the group and complete the value chain of the LNG business, thereby strengthening competitiveness, improving management efficiency and laying the foundation for sustainable growth. For more information, please refer to previous disclosures which have been disclosed on August 12, 2022.
ø Related disclosure
• Decision on Merger (Material Business Matters of Subsidiary Company) disclosed on August 12, 2022
• Occurrence of Causes for Subsidiary's Dissolution disclosed on August 12, 2022
POSCO Holdings Inc. published this content on 04 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2023 11:27:00 UTC.
Posco Holdings Inc, formerly Posco, is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates its business through four segments. The Steel segment produces and sells steel products such as hot rolled steel, cold rolled steel, stainless steel, among others. The Trading segment engages in the global trade, including the export and import of steel products. The Engineering and Construction (E&C) segment plans, designs and builds industrial plants, civil engineering projects, commercial and residential buildings. The Other segment is engaged in the power plants, information and communication related services and other businesses.
POSCO HOLDINGS INC. 
