29.

Redeemable convertible preferred stocks

Eleven street Co., Ltd., a subsidiary of the Parent Company, issued redeemable convertible preferred stocks on September 7, 2018 according to the board of directors’ resolution. The details of the issuance are as follows:


		Information of redeemable convertible preferred stocks
Issuer		Eleven Street Co., Ltd.

Number of shares issued		1,863,093

Issue price		￦268,371 per share

Voting rights		1 voting right per 1 share

Dividend rate(*)		6% of the issue price per annum (cumulative, non-participating) The obligatory dividend rate of the Parent Company is 1% of the issue price per annum

Conversion period		From 6 months after the date of issue to 1 business day before the expiration date of the redemption period

Conversion ratio		[Issue price ÷ Conversion price at the date of conversion] per share

Conversion price		￦268,371 per share

Refixing clauses		• In the case when spin-off, merger, split merger of the company, comprehensive stock exchange or transfer and decrease in capital, (“merger and others”), conversion price is subject to refixing to guarantee the value that the holder could earn the day right before the circumstances arise.

		• In the case when this preferred share is split or merged, the conversion prices is subject to refixing to correspond with the split or merge ratio.

Redemption period		Two months from September 30, 2023 to December 31, 2047 at the choice of the issuer.

Redemption party		Eleven Street Co., Ltd.

Redemption price		Amounts realizing the internal rate of return to be 3.5% at the date of actual redemption

Claim to the residue		Preferential to the common shares

(*)	The present value of obligatory dividends amounting to ￦23,191 million payable to non-controlling interests based on the shareholders agreement are recognized as financial liabilities as of December 31, 2018.