UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF MARCH 2015

Commission File Number: 333-04906

 

 

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

 

 

Euljiro65(Euljiro2-ga), Jung-gu

Seoul 100-999, Korea

(Address of principal executive office)

 

 

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  x            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):  ¨

 

 

 

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Decision on Disposal of Treasury Shares

The Board of Directors of SK Telecom Co., Ltd. (the “Company”) has resolved to dispose of a portion of the Company’s treasury shares by exchanging such shares for all of the shares of SK Broadband Co., Ltd. (“SK Broadband”) that it does not otherwise own such that SK Broadband will become a wholly-owned subsidiary of the Company after such exchange.

 

1. Number of treasury shares to be disposed				Common shares						2,471,883
				Preferred shares						—
2. Reference price of the treasury shares to be disposed (Won)				Common shares						285,434
				Preferred shares						—
3. Estimated disposal amount (Won)				Common shares						705,559,452,222
				Preferred shares						—
4. Disposal period				From						June 9, 2015
				To						June 9, 2015
5. Purpose of Disposal						In accordance with Article 360-6 of the Korean Commercial Code, the Company plans to exchange a portion of its treasury shares for all of the shares of SK Broadband that it does not otherwise own such that SK Broadband will become a wholly-owned subsidiary of the Company after such exchange.
6. Method of disposal						[Over-the-counter].
7. Treasury shares held before disposal		Acquisition pursuant to the Financial Investment Services and Capital Markets Act of Korea (“FSCMA”)		Common shares   Preferred shares		9,809,375   —		Percentage of shares (%)   Percentage of shares (%)		12.15   —
		Other acquisition		Common shares		—		Percentage of shares (%)		—
				Preferred shares		—		Percentage of shares (%)		—
8. Date of the resolution by the Board of Directors						March 20, 2015
— Attendance of outside directors				Present (No.)		4
				Absent (No.)		0
— Attendance of auditors						—

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9.	Other matters relating to investment decisions

 

A.

If the Company acquires additional shares of SK Broadband during the period after the date of the related share exchange agreement and the share exchange date, the number of treasury shares to be disposed, which is set forth in Item 1 above, will be decreased by the number of shares equal to the number of such additionally acquired shares multiplied by the share exchange ratio (1:0.0168936).

 

B.	The reference price of the treasury shares to be disposed set forth in Item 2 above is the exchange price per share pursuant to the share exchange agreement with SK Broadband.

 

C.	The estimated disposal amount in Item 3 above is calculated by multiplying the reference price of the treasury shares to be disposed by the number of treasury shares to be disposed.

 

D.	As described in Item 6 above, the Company will dispose of the number of its treasury shares set forth above in exchange for shares of SK Broadband held by SK Broadband’s shareholders (other than the Company).

[Acquisitions and dispositions of treasury shares prior to the resolution on disposal of treasury shares]

(Unit: Won)

 

Acquisition methods						Type of shares		At the beginning of period				Changes												At the end of period
												Acquired (+)				Disposed (-)				Retired (-)
Acquisition pursuant to the Financial Investment Services and Capital Markets Act of Korea (“FSCMA”)		Direct acquisition		Direct acquisition from market		Common shares			7,086,028				—				—				—				7,086,028
						Preferred shares			—				—				—				—				—
				Direct over-the-counter acquisition		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
				Tender offer		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
				Sub-total (a)		Common shares			7,086,028				—				—				—				7,086,028
						Preferred shares			—				—				—				—				—
		Acquisition through trust and other agreements		Held by trustee		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
				Held in actual stock		Common shares			3,886,710				—				—				—				3,886,710
						Preferred shares			—				—				—				—				—
				Sub-total (b)		Common shares			3,886,710				—				—				—				3,886,710
						Preferred shares			—				—				—				—				—
Other acquisition (c)						Common shares			(1,163,363	)			—				—				—				(1,163,363	)
						Preferred shares			—				—				—				—				—
Total (a+b+c)						Common shares			9,809,375				—				—				—				9,809,375
						Preferred shares			—				—				—				—				—

 

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Direct acquisition: Acquisition of shares pursuant to the Article 341 of the Korean Commercial Code.

Acquisition through trust and other agreements: Acquisitions of shares pursuant to a trust agreement with a trust company or a collective investment company or pursuant to a share purchase agreement with an [investment company] and acquisitions by a repayment in kind due to termination of a trust agreement.

Other acquisition: Acquisition of shares pursuant to the Article 341-2 of the Korean Commercial Code, including acquisitions for the cancellation of shares, acquisitions in connection with a merger and [transfers of shares as gifts].

 

•

The decrease in treasury shares held shown in (c) is due to the Company’s exercise of its early redemption right with respect to its convertible notes on November 13, 2013. As a result, the conversion right exercise period had expired by December 31, 2013 and there are no more treasury shares deposited with the Korea Securities Depository.

 

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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.

 

Date: March 20, 2015

 

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