Kakao to Meet Minority Shareholders on the 20th Over Spin-Off Plan
Kakao will hold an on-site and online meeting at 2 PM on the 20th at the Korea Financial Investment Association to explain its governance restructuring and answer questions.
Kakao announced it will hold a meeting with minority shareholders at 2 PM on the 20th at the Bulls Hall of the Korea Financial Investment Association in Yeongdeungpo-gu, Seoul, according to inews24.com. The meeting will be held both on-site and online.
The company said the session will explain key details related to its corporate governance restructuring and answer shareholders' questions.
Kakao plans to split into Kakao AI and Kakao X at a temporary shareholders' meeting on December 17th.
Earlier Shareholder Meeting
In mid-September, Kakao held an online meeting with minority shareholders to explain the background and expected effects of the spin-off. On September 16th, key executives including Kakao X CEO nominee Kim Do-young and Kakao CFO Shin Jong-hwan answered about 10 questions from minority shareholders in that online meeting.
As of the end of June this year, Kakao's minority shareholders were estimated to number 1.5 million, holding 64.83% of Kakao's shares. The company plans to complete the split on January 1st of next year, relist Kakao AI on January 27th, and change the listing of Kakao X.
Quick answers
When is Kakao's meeting with minority shareholders?
It will be held at 2 PM on the 20th at the Bulls Hall of the Korea Financial Investment Association in Yeongdeungpo-gu, Seoul, both on-site and online.
When will Kakao split into Kakao AI and Kakao X?
The split is scheduled to be approved at a temporary shareholders' meeting on December 17th.
What will be discussed at the meeting?
Kakao will explain key details related to its corporate governance restructuring and answer shareholders' questions.