EX-99.1 2 shg-ex991_6.htm EX-99.1 TERMINATION OF TRUST AGREEMENT FOR ACQUISITION OF TREASURY SHARES shg-ex991_6.htm

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
(Percentage)

12,675,263 (2.67%)

Other Shares

-

Other Acquisitions

Common Shares
(Percentage)

-

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