Sk Telecom Co Ltd 6-K, filed Apr 30, 2021
Sk Telecom Co Ltd (SKM)
About this 6-K
Sk Telecom Co Ltd filed this 6-K on April 30, 2021.
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 APRIL 2021
Commission File Number: 333-04906
SK Telecom Co., Ltd.
(Translation of registrant’s name into English)
65, Euljiro, Jung-gu
Seoul 04539, 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 ☒ 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): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
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): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Results of Termination of Share Repurchase Agreement
On April 30, 2021, the share repurchase agreement by and between SK Telecom Co., Ltd. (the “Company”) and SK Securities Co., Ltd. (“SK Securities”) dated August 28, 2020 (the “Agreement”) was terminated.
1. Name and Address of Issuer
| A. | Name: SK Telecom Co., Ltd. |
| B. | Address: 65, Eulji-ro, Jung-gu, Seoul, Korea |
2. Details of Termination
| A. | Date of Report on Decision to Terminate the Agreement: April 29, 2021 (Please refer to the current report on Form 6-K furnished by the Company on April 29, 2021.) |
| B. | Counterparty (Broker) to the Agreement |
| • | Name: SK Securities |
| • | Company Identification Number: 00131850 |
3. Details of the Agreement
| (Unit : millions of Won) | ||||||
| Date of Termination |
Type of Agreement |
Value of Agreement | ||||
| April 30, 2021 |
Trust agreement for repurchase of treasury shares |
500,000 | ||||
4. Acquisitions and Dispositions of Issued Shares of the Company under the Agreement
| (Unit: millions of Won, shares, %) | ||||||||||||||||||||||||||||||
| For the month ended |
Type |
Acquisition | Disposition | Value of Agreement |
||||||||||||||||||||||||||
| Number (A) |
Aggregate Value (B) |
Ratio (A/B) |
Number (A) |
Aggregate Value (B) |
Ratio (A/B) |
|||||||||||||||||||||||||
| August 31, 2020 |
Common shares | — | — | — | — | — | — | 500,000 | ||||||||||||||||||||||
| September 30, 2020 |
Common shares | 496,870 | 118,956 | 23.79 | — | — | — | 500,000 | ||||||||||||||||||||||
| October 31, 2020 |
Common shares | 612,425 | 143,671 | 28.73 | — | — | — | 500,000 | ||||||||||||||||||||||
| November 30, 2020 |
Common shares | 420,000 | 96,071 | 19.21 | — | — | — | 500,000 | ||||||||||||||||||||||
| December 31, 2020 |
Common shares | 280,000 | 67,965 | 13.59 | — | — | — | 500,000 | ||||||||||||||||||||||
| For the month ended |
Type |
Acquisition | Disposition | Value of Agreement |
||||||||||||||||||||||||||
| Number (A) |
Aggregate Value (B) |
Ratio (A/B) |
Number (A) |
Aggregate Value (B) |
Ratio (A/B) |
|||||||||||||||||||||||||
| January 31, 2021 |
Common shares | 288,000 | 72,982 | 14.60 | — | — | — | 500,000 | ||||||||||||||||||||||
| February 28, 2021 |
Common shares | — | — | — | — | — | — | 500,000 | ||||||||||||||||||||||
| March 31, 2021 |
Common shares | — | — | — | — | — | — | 500,000 | ||||||||||||||||||||||
| April 30, 2021 |
Common shares | — | — | — | — | — | — | 500,000 | ||||||||||||||||||||||
| Total |
— | 2,097,295 | 499,646 | 99.93 | — | — | — | 500,000 | ||||||||||||||||||||||
| ø | The acquisition information above is based on the date of the order and the aggregate values do not include commissions. |
5. Ownership of Treasury Shares after Termination of Agreement
| [As of April 30, 2021] | (Unit: millions of Won, shares, %) | |||||||||||||||||||||||||||||||||||
| Type |
Treasury Shares Held pursuant to Article 165-3 of the Financial Investment Services and Capital Markets Act (“FSCMA”)(1) |
Treasury Shares Held under Trust Contract pursuant to Article 165-3 of FSCMA |
Total | |||||||||||||||||||||||||||||||||
| Number | Ratio(2) | Aggregate Value |
Number | Ratio(2) | Aggregate Value |
Number | Ratio(2) | Aggregate Value |
||||||||||||||||||||||||||||
| Common shares |
7,488,273 | 9.27 | 1,670,014 | — | — | — | 7,488,273 | 9.27 | 1,670,014 | |||||||||||||||||||||||||||
| Common shares |
2,097,295 | 2.60 | 499,646 | — | — | — | 2,097,295 | 2.60 | 499,646 | |||||||||||||||||||||||||||
| Total |
9,585,568 | 11.87 | 2,169,660 | — | — | — | 9,585,568 | 11.87 | 2,169,660 | |||||||||||||||||||||||||||
| (1) | Includes 7,488,273 treasury shares that were already held directly by the Company and 2,097,295 common shares returned to the Company upon termination of the Agreement. |
| (2) | Ratio calculated based on 80,745,711 total issued shares of the Company. |
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.
| SK TELECOM CO., LTD. (Registrant) | ||
| By: /s/ Joongsuk Oh (Signature) | ||
| Name: | Joongsuk Oh | |
| Title: | Senior Vice President | |
Date: April 30, 2021