UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
Under the Securities Exchange Act of 1934
For the Month of September 2019
SHINHAN FINANCIAL GROUP CO., LTD.
(Translation of registrant's name into English)
20, Sejong-daero 9-gil, Jung-gu, Seoul 04513, Korea
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F √ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1): _______
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): _______
Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes No___√___
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- n/a .
Please refer to Exhibit 99.1.
Exhibit No. |
|
Description |
99.1 |
|
Termination of Trust Agreement for Acquisition of Treasury Shares |
|
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SHINHAN FINANCIAL GROUP CO., LTD.
Date: September 9, 2019
By: /s/ Yu Sung-hun
Name: Yu Sung-hun
Title: Chief Financial Officer
Exhibit 99.1
Termination of Trust Agreement for Acquisition of Treasury Shares
Shinhan Financial Group(hereafter SFG) announced on September 9, 2019 that the trust agreement SFG had entered into on September 10, 2018 to acquire treasury shares has been terminated. Pursuant to Article 176-2 of the Enforcement Decree of the Financial Investment Services and Capital Markets Act of Korea, no separate resolution of the board of directors is required as the trust agreement is being terminated upon the expiration of the term of the agreement. The number of treasury shares acquired upon termination of the trust agreement is 4,667,856, which will be kept in Shinhan Financial Group’s corporate account. Another trust agreement to acquire treasury shares that SFG announced on May 20, 2019 is in progress.
Total Contract Amount |
Before Termination |
200,000,000,000 |
|
After Termination |
0 |
||
Contract Period (Before Termination) |
Effective Date |
September 10, 2018 |
|
Termination Date |
September 9, 2019 |
||
Reason for Termination |
Expiration of the term of the agreement |
||
Counterparty |
Samsung Securities Co., Ltd. |
||
Expected Date of Termination |
September 9, 2019 |
||
Method of Return of Trust Properties upon Termination |
Return of cash and treasury shares |
||
Number of Treasury Shares Held Prior to Termination |
Acquisitions from Profits Available for Dividend |
Common Shares |
12,675,263 (2.67%) |
Other Shares |
- |
||
Other Acquisitions |
Common Shares |
- |
|
Other Shares |
- |
||
Date of Resolution by the Board of Directors |
- |
|
Number of shares at beginning of 2019 |
Increase in number of shares during 2019 |
Decrease in number of shares during 2019 |
Number of Shares as of September 6, 2019 |
Treasury Shares |
3,648,659 |
9,026,604 |
- |
12,675,263 |
Common Shares |
3,648,659 |
9,026,604 |
- |
12,675,263 |
Total |
3,648,659 |
9,026,604 |
- |
12,675,263 |
|
※ |
All treasury shares are purchased through trust agreement within the amount of profits available for dividend |