[E-Daily Kim Kyung-eun Reporter] Nature and Environment Co., Ltd.(043910)announced on the 2nd that it will merge with its wholly-owned subsidiary, Hanlim Ecotech, to improve management efficiency and strengthen business competitiveness. Nature and Environment Co., Ltd. will remain as the surviving company, while Hanlim Ecotech will be dissolved. The merger is scheduled for December 31.
Hanlim Ecotech is an unlisted company whose primary business involves the manufacture and installation of products related to environmental conservation and restoration. Nature and Environment Co., Ltd. holds 4 million shares of Hanlim Ecotech, representing a 100% stake.
This merger will proceed as a small-scale merger without a capital increase, meaning no new shares will be issued. The merger ratio is 1:0 between Nature and Environment Co., Ltd. and KORTEK CORPORATION. There will be no change in the number of issued shares or the capital stock of Nature and Environment Co., Ltd. as a result of the merger, nor will the largest shareholder change.
Nature and Environment Co., Ltd. stated, “This is intended to enhance management efficiency and strengthen business competitiveness by efficiently utilizing management resources,” adding, “We expect this to have a positive impact on the company’s overall business environment through the efficient use of human and material resources.”
The merger agreement date is the 6th, and the record date for shareholders is the 19th. The period for submitting notices of opposition to the merger runs from the 19th of this month through the 2nd of next month. The merger effective date is December 31, and the scheduled date for merger registration is January 11 of next year.
Hanlim Ecotech is an unlisted company whose primary business involves the manufacture and installation of products related to environmental conservation and restoration. Nature and Environment Co., Ltd. holds 4 million shares of Hanlim Ecotech, representing a 100% stake.
This merger will proceed as a small-scale merger without a capital increase, meaning no new shares will be issued. The merger ratio is 1:0 between Nature and Environment Co., Ltd. and KORTEK CORPORATION. There will be no change in the number of issued shares or the capital stock of Nature and Environment Co., Ltd. as a result of the merger, nor will the largest shareholder change.
Nature and Environment Co., Ltd. stated, “This is intended to enhance management efficiency and strengthen business competitiveness by efficiently utilizing management resources,” adding, “We expect this to have a positive impact on the company’s overall business environment through the efficient use of human and material resources.”
The merger agreement date is the 6th, and the record date for shareholders is the 19th. The period for submitting notices of opposition to the merger runs from the 19th of this month through the 2nd of next month. The merger effective date is December 31, and the scheduled date for merger registration is January 11 of next year.
