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| Name | Symbol | Market | Type |
|---|---|---|---|
| Wells Fargo 24 | LSE:50DN | London | Medium Term Loan |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 108.868 | 0 | 00:00:00 |
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TIDM50DN
RNS Number : 6855U
Samsung Heavy Industries Co., Ltd
20 October 2010
Merger between Samsung Heavy Industries and Techwineco.
On October 20, 2010, the BOD of Samsung Heavy Industries announced it is seeking to merge with Techwineco Co., Ltd. as part of a measure to improve the management efficiency and manufacturing competitiveness in the field of ballst-water control system.
The merger, expected to be signed on November 22, 2010, will go into effect from December 28, 2010, once the transaction is approved at the shareholders meeting of Samsung Heavy Industries.
Under the agreement, Techwineco will be absorbed into Samsung Heavy Industries, as a part of business unit responsible for developing ballast-water control system. The merger ratio of the two companies is 1:0 (SHI has 100% equity portion of Techwineco)
The merger is intended to enhance shareholder value by maximizing the management efficiency and manufacturing competitiveness of the ballast-water control system.
* On October 20, 2010, the BOD of Samsung Heavy Industries decided on the book closure period and the record date for the merger between Samsung Heavy Industries and Techwineco. The book closure aims to determine the list of shareholders entitled to exercise the right to dissent.
* Details
Book closure period: Between November 6 and November 12, 2010
Record date: November 5, 2010
This information is provided by RNS
The company news service from the London Stock Exchange
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