Huvitz Absorbs Subsidiary OSVIS... Enhancing Management Efficiency and Business Competitiveness

KOSDAQ-listed company Huvitz (CEO Kim Hyun-soo) is embarking on organizational integration by absorbing its 100%-owned subsidiary, OSVIS.

On the 24th, Huvitz announced through a regulatory filing that it has decided to absorb OSVIS, a company specializing in the distribution of digital dentistry equipment and implant development, with the aim of enhancing management efficiency and strengthening business competitiveness.

This merger will be conducted as a merger without a capital increase, given that Huvitz owns a 100% stake in OSVIS, and the merger ratio has been set at 1 to 0. Since no new shares will be issued, there are no concerns about a change in the largest shareholder or the dilution of share value.

Furthermore, in accordance with the small-scale merger procedures under the Commercial Act, the approval of the general shareholders' meeting will be replaced by a resolution of the board of directors. The period for receiving notices of opposition to the merger is from September 9 to September 23, and the merger is scheduled to be completed on November 30, following the period for creditors to submit objections.

Huvitz expects to maximize synergy effects through this merger by efficiently combining the human and material resources of both companies and establishing a unified decision-making system.