Report of Foreign Issuer (6-k)

Date : 10/26/2018 @ 9:18AM
Source : Edgar (US Regulatory)
Stock : SK Telecom Co., Ltd. (SKM)
Quote : 25.88  -0.19 (-0.73%) @ 3:36PM

Report of Foreign Issuer (6-k)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF OCTOBER 2018

Commission File Number: 333-04906

 

 

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

 

 

65 Euljiro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 


Decision on Disposal of Treasury Shares

The Board of Directors of SK Telecom Co., Ltd. (the “Company”) has resolved to dispose of a portion of the Company’s treasury shares by exchanging such shares for all of the shares of SK infosec Co., Ltd. (“SK infosec”) such that SK infosec will become a wholly-owned subsidiary of the Company after such exchange.

 

1. Number of treasury shares to be disposed      

Common shares

   1,260,668

 

  

Preferred shares

   —  

 

2. Reference price of the treasury shares to be disposed (Won)      

Common shares

   279,088

 

  

Preferred shares

   —  

 

3. Estimated disposal amount (Won)      

Common shares

   351,837,310,784

 

  

Preferred shares

   —  

 

4. Disposal period      

From

   December 27, 2018

 

  

To

   December 27, 2018

 

5. Purpose of disposal    In accordance with Article 360-2 of the Korean Commercial Code, the Company plans to exchange a portion of its treasury shares for all of the shares of SK infosec such that SK infosec will become a wholly-owned subsidiary of the Company after such exchange.

 

6. Method of disposal    Over-the-counter

 

7. Treasury shares held before disposal    Acquisition pursuant to the Financial Investment Services and Capital Markets Act of Korea (“FSCMA”)   

Common shares

   10,136,551   

Percentage of

shares (%)

     12.6  
  

Preferred shares

   —     

Percentage of

shares (%)

     —    
  

Other acquisition

  

Common shares

   —     

Percentage of

shares (%)

     —    
  

Preferred shares

   —     

Percentage of

shares (%)

     —    
8. Date of the resolution by the board of directors    October 25, 2018

 

— Attendance of outside directors      

Present

   5

 

  

Absent

   0

 

— Attendance of auditors    —  

 

9. Other matters relating to investment decisions   

 

A.

If the Company acquires additional shares of SK infosec during the period after the date of the related share exchange agreement and the share exchange date, the number of treasury shares to be disposed, which is set forth in Item 1 above, will be decreased by the number of shares equal to the number of such additionally acquired shares multiplied by the share exchange ratio (1:0.0997678).


B.

The reference price of the treasury shares to be disposed set forth in Item 2 above is the exchange price per share pursuant to the share exchange agreement with SK infosec.

 

C.

The estimated disposal amount in Item 3 above is calculated by multiplying the reference price of the treasury shares to be disposed by the number of treasury shares to be disposed.

 

D.

For the method of disposal in Item 6 above, the Company will dispose of the number of its treasury shares set forth above in exchange for shares of SK infosec held by SK infosec’s shareholders.

 

E.

This share exchange is a “large-scale intra-group transaction” under Article 11-2 of the Korean Monopoly Regulation and Fair Trade Act, and this disclosure shall act to satisfy the disclosure obligations under fair trade laws.

 

F.

For more information on the share exchange, see the Report on Decision on Share Exchange dated October 26, 2018.

[Acquisitions and dispositions of treasury shares prior to the resolution on disposal of treasury shares]

(Unit: shares)

 

Acquisition methods

  Type of
shares
   At the
beginning of
period
     Changes      At the end of
period
 
   Acquired
(+)
     Disposed
(-)
     Retired
(-)
 
Acquisition pursuant to the Financial Investment Services and Capital Markets Act of Korea (“FSCMA”)     
Direct
acquisition
 
 
   Direct
acquisition from
market
  Common
shares
     10,136,551        —          —          —          10,136,551  
  Preferred
shares
     —           —          —          —          —     
   Direct
over-the-counter
acquisition
  Common
shares
     —           —          —          —          —     
  Preferred
shares
     —           —          —          —          —     
   Tender offer   Common
shares
     —           —          —          —          —     
  Preferred
shares
     —           —          —          —          —     
   Sub-total (a)   Common
shares
     10,136,551        —          —          —          10,136,551  
  Preferred
shares
     —           —          —          —          —     
    



Acquisition
through
trust and
other
agreements
 
 
 
 
 
   Held by trustee   Common
shares
     —           —          —           —          —     
  Preferred
shares
     —           —          —        —          —     
   Held in actual
stock
  Common
shares
     —           —          —           —          —     
  Preferred
shares
     —           —          —           —          —     
      Sub-total (b)   Common
shares
     —           —          —           —          —     
     Preferred
shares
     —           —          —           —          —     
Other acquisition (c)         Common
shares
     —          

  
 
 
     —          

  
 
 
     —     
  Preferred
shares
     —          

  
 
 
     —          

  
 
 
     —     
Total (a+b+c)         Common
shares
     10,136,551       

  
 
 
     —          

  
 
 
     10,136,551  
  Preferred
shares
     —          

  
 
 
     —          

  
 
 
     —     

 

3


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

SK T ELECOM C O ., L TD .
( Registrant )
By:   /s/ Jung Hwan Choi
(Signature)
Name:   Jung Hwan Choi
Title:   Senior Vice President

Date: October 26, 2018

 

4

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