Pursuant to the resolutions adopted at the Extraordinary General Meeting of Shareholders of Ericsson-LG Co., Ltd. (“ELC”) held on September 30, 2013, the Enterprise Solution (“ES”) business of ELC will be spun off, and a new company with the proposed name of Ericsson-LG Enterprise Co., Ltd. (“NewCo”) will be incorporated with the assets related to the ES business. It was also resolved that ELC will continue to exist for the operation of the businesses remaining after the spin-off of the ES business.
You are hereby notified that:
(1) Pursuant to the spin-off plan approved at the Extraordinary General Meeting of Shareholders of ELC and Article 530-9, Paragraph 2 of the Korean Commercial Code, NewCo will only assume those liabilities in respect of the assets relating to the ES business to be spun-off from ELC, and ELC will only assume those liabilities in respect of the assets relating to those businesses of ELC not transferred to NewCo.
(2) Personal information of customers, suppliers and other transaction counterparties, among others, owned by ELC in respect of the ES business to be spun-off will be transferred to NewCo (Ericsson-LG Enterprise Co., Ltd. with principle office at 81th Heungan-DaeRo, Dongan-Gu, Anyang-Si, Kyunggi-Do), with effect from November 1, 2013, which is the proposed spin-off date.
If you have any objections concerning the above-mentioned spin-off of the ES business or the proposed transfer of personal information, please file objections at Hyunsoo Ok (Hyunsoo.email@example.com) of EAA Planning Team in ELC’s head office by no later than October 30, 2013, which falls one month from the date immediately following the date of this public notice.
Date: September 30, 2013
Ericsson-LG Co., Ltd.
GS Gangnam Tower 7F, 8F, Yeoksam-dong, Gangnam-gu, Seoul
Joint Representative Directors: Martin Wiktorin / Sanghoon Koo