NHN Plan to Amend Articles of Incorporation to Pay Dividends-in-kind for Existing Stockholders When Listing its Subsidiary
NSP NEWS, By hYUNJIN KIM Journali
END7, Read 0(Seoul=NSP News Agency) hYUNJIN KIM Journalist = On Friday, NHN held a board of directors to amend articles of incorporation, allowing special resolution of general shareholders’ meeting and stock payment as a dividends-in-kind when listing its subsidiary.
The company’s coming general shareholder’s meeting will be held on 29 March. This amendment will reflect NHN’s will to listen to shareholders’ voices when promoting the public offering of its subsidiary and distributing the fruit of its subsidiary’s growth with shareholders.
Also, the CEO of NHN released the first shareholder letter since the company’s establishment, showing his will for strengthening shareholder returns and active communication to the NHN’s shareholders and this year’s business directions for the company’s key business areas and advanced ESG management plan. He said, “Starting this year, NHN will use at least 30 percent of its separate EBITDA (the earnings before deducting taxes, interest, depreciation, and amortization) of the previous three business years as a fund for shareholders returns, such as share buyback or dividends.” And added, “We will share and communicate with our shareholders about detailed shareholder return initiative that we have executed.”
The company’s coming general shareholder’s meeting will be held on 29 March. This amendment will reflect NHN’s will to listen to shareholders’ voices when promoting the public offering of its subsidiary and distributing the fruit of its subsidiary’s growth with shareholders.
Also, the CEO of NHN released the first shareholder letter since the company’s establishment, showing his will for strengthening shareholder returns and active communication to the NHN’s shareholders and this year’s business directions for the company’s key business areas and advanced ESG management plan. He said, “Starting this year, NHN will use at least 30 percent of its separate EBITDA (the earnings before deducting taxes, interest, depreciation, and amortization) of the previous three business years as a fund for shareholders returns, such as share buyback or dividends.” And added, “We will share and communicate with our shareholders about detailed shareholder return initiative that we have executed.”
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On establishing NHN Cloud corporation scheduled on coming 1 April, he said, “It shows a financing strategy through strategic partners of cloud business that requires proactive investment and an NHN’s will to build a professional and responsible management specialized in our business areas” and highlighted the need of split-off, saying, “I am convinced that this will lead to get competitiveness in the cloud business and enhance the value of parent company, NHN in the end.”
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