[Edaily Reporter Park Sun-Yeop ] CNTUS(352700)announced on the 26th that it has decided to merge with its wholly-owned subsidiary, Pinkeridge.
The merger will take the form of a small-scale merger in which CNTUS will continue to exist and Pinkeridge will be dissolved. The purpose of the merger is to improve management efficiency and strengthen business competitiveness.
Since CNTUS holds 100% of Pinkeridge’s shares, no new shares will be issued as a result of the merger. The merger ratio is 1:0 between CNTUS and Pinkeridge, respectively. There will be no change in CNTUS’s largest shareholder following the completion of the merger.
The merger agreement date is the 29th, and the merger effective date is September 1. The merger registration is scheduled for September 2.
As this merger qualifies as a “small-scale merger” under the Commercial Act, CNTUS shareholders will not be granted a right to demand the purchase of their shares.
The merger will take the form of a small-scale merger in which CNTUS will continue to exist and Pinkeridge will be dissolved. The purpose of the merger is to improve management efficiency and strengthen business competitiveness.
Since CNTUS holds 100% of Pinkeridge’s shares, no new shares will be issued as a result of the merger. The merger ratio is 1:0 between CNTUS and Pinkeridge, respectively. There will be no change in CNTUS’s largest shareholder following the completion of the merger.
The merger agreement date is the 29th, and the merger effective date is September 1. The merger registration is scheduled for September 2.
As this merger qualifies as a “small-scale merger” under the Commercial Act, CNTUS shareholders will not be granted a right to demand the purchase of their shares.
