Hanil E-Hwa Co., Ltd. (KOSE:A007860) announced the spin-off of manufacturing business division on September 30, 2013. The spin-off ratio is calculated based on the balance sheet as of June 30, 2013, 0.3142750 for Hanil E-Hwa Co., Ltd. and 0.6857250 for the spin-off newly established corporation. The newly establishing corporation will be named as Hanil E-Hwa Co., Ltd. and Hanil E-Hwa Co., Ltd. will be renamed as SEOYEON CO., LTD.

The spin-off fixed date and record date are March 1, 2014. The scheduled listing date for the shares of the newly established company will be March 31, 2014. As per amendment on February 27, 2014, the expected completion date of spin-off is not yet settled. As of April 4, 2014, general meeting of stockholders prearranged date is May 29, 2014, scheduled spin-off date is July 1, 2014 and scheduled date of spin-off registration is July 2, 2014. As on May 29, 2014, the stockholders of Hanil E-Hwa approved the transaction. The shareholder decision for a spin-off general meeting of stockholders date is May 2, 2014 while spin-off report general meeting date or the inaugural meeting date and registration date of spin-off is July 2, 2014. Stock closing of the registration of shareholders notification date is April 17, 2014; stock closing of the registration of shareholders the duration is from May 3, 2014 to May 13, 2014. General meeting of stockholders call notice dispatch and call notification is scheduled for May 14, 2014; existing shares submission notification date is May 30, 2014. Trading transactions stop duration is from June 27, 2013 till the change listing preceding day, which is August 8, 2014.

Hanil E-Hwa Co., Ltd. (KOSE:A007860) completed the spin-off of manufacturing business division for KRW 2.1 trillion on July 1, 2014.