Last checked at 6 Sep 2012 07:00
HYUNDAI MOTOR COMPANY (HMC)
Corporate Disclosure to Korea Exchange
Disclosure Date: September 3, 2012
Disclosure Title: Response to Disclosure Inquiry regarding Rumor or News
1. Title of disclosure
Response to disclosure inquiry regarding stake sales in Korea Aerospace Industries
2. Response from the company
During the period of Korea Finance Corporation, the chair of KAI shareholders conference, accepting the offers for the auction, only one company submitted a bid as of August 31st. HMC verified a miscarriage of auction for the sales of KAI shares due to a lack of workable competition.
HMC will release a follow-up disclosure within 6 months or issue an immediate disclosure if any concrete decision has been made before 6 months of period is reached.
3. Others
Above response is for the disclosure inquiry from Korea Exchange on the rumor regarding involvement of Hyundai Motor Company in Sales of KAI.
Related disclosures previously issued: April 20th 2012, May 18th 2012, and August 17th 2012