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SM Culture & Contents Co., Ltd. to Merge with WOOLLOM ENTERTAINMENT

Thursday, 8 Aug 2013 10:44pm EDT 

SM Culture & Contents Co., Ltd. announced that it has signed a statutory merger agreement with WOOLLOM ENTERTAINMENT, a Korea-based company mainly engaged in the album producing and entertainment business, to improve operating efficiency and synergy. The merger ratio of SM Culture & Contents and WOOLLOM ENTERTAINMENT is 1 : 0.2048998 and 3,774,836 common shares will be issued with the merger. The merger effective date is October 15, 2013. After the merger, SM Culture & Contents will survive and WOOLLOM ENTERTAINMENT will be dissolved. 

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-30.0 -0.95%
21 Nov 2014