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[Alpha Biz=(Chicago) Reporter Kim Jisun] Celltrion will hold an extraordinary shareholders' meeting in Songdo, Incheon, on the 23rd to decide whether to merge with Celltrion Healthcare.
According to Celltrion, if the merger is approved, Celltrion will absorb Celltrion Healthcare by the end of this year and push for another merger with Celltrion Pharmaceutical next year to integrate major affiliates within the group.
To that end, Celltrion plans to allocate 0.4492620 Celltrion common shares per share of Celltrion Healthcare and issue new shares. The electronic voting of shareholders will end on the 22nd and the merger will be decided through an on-site vote on the 23rd.
In the end, the bill will be passed if more than two-thirds of the voting rights of shareholders attending the shareholders' meeting and more than one-third of the total number of issued shares approve it. In this case the final date for the merger is 28 December. On January 12, 2024, the company will list newly issued shares absorbed from Celltrion Healthcare.
Even if the merger is approved on the same day, some procedures remain. If each of the existing shareholders of Celltrion and Celltrion Healthcare do not want to merge and convert new shares, they can exercise their right to buy shares by Nov. 13 to sell their holdings to each company.
However, if the exercise of the right to purchase shares exceeds 1 trillion won prepared by Celltrion and Celltrion Healthcare, the merger plan decided at the shareholders' meeting will naturally fail.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
