UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE13a-16 OR15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF OCTOBER 2019
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 Form20-F or Form40-F.
Form20-F ☒ Form40-F ☐
Indicate by check mark if the registrant is submitting the Form6-K in paper as permitted by RegulationS-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form6-K in paper as permitted by RegulationS-T Rule 101(b)(7): ☐
Decision on Disposal of Treasury Shares
On October 28, 2019, in order to pursue a strategic alliance with Kakao Corp. (“Kakao”), the board of directors of SK Telecom Co., Ltd. (the “Company”) approved the Company’s entry into a certain share purchase agreement with Kakao, pursuant to which the Company will acquire newly-issued common shares of Kakao, and Kakao will acquire treasury shares of the Company at Won 236,851 per share (in the aggregate amount of approximately Won 300 billion).
1. Number of Treasury Shares to be Disposed | Common shares | 1,266,620 | ||||||||
Preferred shares | — | |||||||||
2. Price of the Treasury Shares to be Disposed (Won) | Common shares | 236,851 | ||||||||
Preferred shares | — | |||||||||
3. Estimated Aggregate Disposal Value (Won) | Common shares | 300,000,213,620 | ||||||||
Preferred shares | — | |||||||||
4. Disposal Period | From | November 5, 2019 | ||||||||
To | November 5, 2019 | |||||||||
5. Purpose of Disposal | In accordance with Article 342 of the Korean Commercial Code, the Company plans to dispose a portion of its treasury shares to Kakao in order to strengthen collaboration with Kakao through a strategic alliance. | |||||||||
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 | Common shares | 8,875,883 | Percentage of shares (%) | 10.99 | |||||
Preferred shares | — | Percentage of shares (%) | — | |||||||
Other Acquisition | Common shares | — | Percentage of shares (%) | — | ||||||
Preferred shares |
— |
Percentage of shares (%) |
— | |||||||
8. Date of Resolution by the Board of Directors | October 28, 2019 | |||||||||
• Attendance of Outside Directors | Present: 5; Absent: 0 |
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/ Jung Hwan Choi | ||
(Signature) | ||
Name: | Jung Hwan Choi | |
Title: | Senior Vice President |
Date: October 28, 2019
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