"There Was No Prior Coordination with the FSS" – Hanwha Solutions Corporation Apologizes for Misstatement on Rights Issue

[Financial News] Hanwha Solutions Corporation issued an official apology on the 4th for a remark made at a meeting with individual shareholders about its rights issue, which gave the impression that there had been prior coordination with financial authorities.
Hanwha Solutions Corporation stated that during the individual shareholder meeting on the rights issue held the previous afternoon, an explanation involving the Financial Supervisory Service (FSS) did not reflect the facts. The company corrected the statement and apologized to its shareholders.
According to the company, during the meeting an employee was explaining that Hanwha Solutions Corporation had verbally informed the Financial Supervisory Service in advance of its intention to file a securities registration statement. In doing so, the person used an inaccurate expression, which led to the misunderstanding that the company had discussed its rights issue plan with the FSS beforehand and sought its consent.
Hanwha Solutions Corporation stressed, "This was an individual's mistake and does not represent the company's official position," adding, "Apart from notifying the Financial Supervisory Service (FSS) that we planned to submit a securities registration statement, there was no prior consultation on the contents of the filing, nor did we seek advance approval in relation to the rights issue."
The company stated, "It was clearly wrong that our inaccurate remark conveyed incorrect information to shareholders attending the meeting and caused confusion in their decision-making," and added, "We also apologize to officials at the Financial Supervisory Service (FSS), who came to be misunderstood as having had prior coordination with us." It went on to say, "We take this matter very seriously and will exercise greater caution in our future communications with shareholders."
solidkjy@fnnews.com Gu Ja-yoon Reporter