Ecopro BM Submits Amended Registration Statement for 1.2 Trillion Won Paid-In Capital Increase... Issuance Size Maintained

Ecopro BM has maintained its plan for a 1.2 trillion won paid-in capital increase and has submitted an amended registration statement detailing how the funds will be used and specifying its investment plans for the nickel smelting plant in Indonesia.

According to the Financial Supervisory Service’s electronic disclosure system on August 9, Ecopro BM submitted a voluntary amended registration statement for its paid-in capital increase to the FSS on August 7.

On June 30, Ecopro BM resolved to conduct a paid-in capital increase worth 1.2 trillion won through a rights offering followed by a public offering of forfeited shares. Subsequently, on July 14, the company received a correction request from the FSS and submitted the first amended registration statement on July 24. This time, the company proactively submitted a voluntary amendment before an official decision was made by the FSS.

The latest amendment provides further details on the key use of proceeds: investment in the BNSI nickel smelting plant in Indonesia.

According to Ecopro BM, as of the end of last month, construction progress at the BNSI smelting plant stood at 39.2%. Major works such as ground construction have been completed, and trial operation of key facilities and equipment is expected to begin in December. The company plans to complete all remaining work by March of next year.

The number of shares to be issued through the paid-in capital increase remains unchanged at 9,900,990, with the proposed issue price also maintained at 121,200 won per share.

The effective date of the amended registration statement is set for the 25th. Ecopro BM plans to hold a second general shareholders' meeting on the 21st to explain the details of the paid-in capital increase and the plans for how the funds will be used.

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