Item 5.01 Submission of Matters to the Vote of Securityholders.
(b) Information required by Article 403 (c) of the SK Regulation regarding arrangements known to the registrant which may at a later date result in a change of control.
The information set out in section 8.01 below is incorporated by reference into this section 5.01.
Item 8.01 Other Events.
“The 100% subsidiaries of each of the
(these subsidiaries, collectively the “Borrowers”) entered into (i) a Margin Loan Agreement dated
As of the closing date, borrowers have borrowed a total of
under the Loan Agreement. Pursuant to the Pledge Agreements, in order to secure the borrowings under the Loan Agreement, the Borrowers collectively pledged 192,337,591 Common Shares (collectively, the “Pledged Shares”). At the closing date, the pledged shares collectively represented approximately 65.9% of the issued and outstanding common shares on the date
The Loan Agreement contains customary provisions in the event of default. In the event of default by the Borrowers under the Loan Agreement, the Secured Parties may seize all the Pledged Shares. “
The Company has not independently verified or participated in the preparation of the foregoing disclosure. In addition, the Company is not a party to the Loan Documents and has no obligation under them, but has delivered letters of agreement to each of the Lenders in which it has, among other things, agreed, under subject to applicable laws, rules and regulations (including stock exchange rules), not to take any action aimed at hindering or delaying the exercise of any recourse by lenders under the collateral agreements.
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