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LPL » Topics » Report on Shareholding of AVACO CO., Ltd.

This excerpt taken from the LPL 6-K filed Jun 13, 2008.

Report on Shareholding of AVACO CO., Ltd.

On June 10, 2008, LG Display acquired 2,037,204 common shares of AVACO as we filed on May 6, 2008, and as the following:

 

1. Invested Company (“Issuer”)

 

  1) Name: AVACO CO., Ltd.

 

  2) Total Number of Voting Shares Issued as of June 10, 2008: 10,237,204

 

2. Investor

 

  1) Name of Reporting Person: LG Display Co., Ltd.

 

  2) Details of Shareholding of AVACO CO., Ltd:

 

    

Date of Change

   

Investor

    Percentage of Shareholding
           Number of
Shares (1)		    Percent (2) (%)

Before

    —      —      —      —  

After

    June 10, 2008    LG Display Co., Ltd.    2,037,204    19.9

Increase

    2,037,204    19.9

 

(1) Number of shares beneficially owned by LG Display
(2) Shareholding ratio represented by the number of shares beneficially owned by LG Display

 

  3) Method of Acquisition: Third-Party Allocation of New Shares

 

  4) Class of Share: Common Stock

 

  5) Purchase Price Per Share: KRW 3,030 per share

 

3. Purpose of equity investment:

LG Display Co., Ltd. made this equity investment to participate in the management of the Issuer.

LG Display Co., Ltd. will exercise its voting rights with respect to the important matters of the Issuer, such as the election or removal of the directors and auditors, amendment of the articles of incorporation, sale or transfer of all or a material portion of the assets and merger or dissolution. While LG Display Co., Ltd. does not currently have detailed plans about the above voting rights, it will vote in line with the business objectives of the Issuer.

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