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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
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2021
Commission File Number: 1-13368
POSCO
(Translation of registrant’s name into English)
POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, 06194
(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 submitted to furnish a report or other document that the registrant 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.
Decision on Termination of the Contract for Share Repurchase Trust
| 1. | Contract Amount of the Contract for Share Repurchase Trust (“Contract” or “Trust Contract”): KRW 1 trillion (KRW 1,000,000,000,000) |
| 2. | Reason for Termination of the Trust Contract: |
Due to completion of treasury shares repurchase which is equivalent to the Trust Contract amount and due to expiration of the Contract period, April 13, 2020 to April 12, 2021
| 3. | Trust Companies: Samsung Securities Co., Ltd., |
KB Securities co.,Ltd.,
and NH INVESTMENT & SECURITIES CO.,LTD.
| 5. | Date of Contract Termination: April 12, 2021 |
| 6. | Total Treasury Shares after Termination of the Trust Contract: |
11,561,263 common shares (Equivalent to 13.26% of the total number of issued common shares)
| 7. | Others |
| • | In accordance with the article 176-2 of the Korean Enforcement Decree of the Financial Investment Services and Capital Markets Act, no resolution by the Board of Directors was required. |
| • | The number of common shares acquired by the contract to be terminated is 4,490,069 shares, and after the termination, the shares will be deposited to the company’s securities accounts. |
| 8. | Share Acquisition Status through the Trust Contract |
| Acquisition | Trust Contract Amount(KRW) as of each month-end (B) |
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| Date |
Type of Share |
Number of Shares |
Amount (KRW) (A) |
Ratio(%) (A/B) |
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| May 31, 2020 |
Common Share | 165,048 | 28,485,058,000 | 2.85 | 1,000,000,000,000 | |||||||||||||
| June 30, 2020 |
Common Share | 193,905 | 36,337,899,500 | 3.63 | 1,000,000,000,000 | |||||||||||||
| July 31, 2020 |
Common Share | 323,472 | 61,447,851,000 | 6.14 | 1,000,000,000,000 | |||||||||||||
| August 31, 2020 |
Common Share | 314,443 | 62,261,158,500 | 6.23 | 1,000,000,000,000 | |||||||||||||
| September 30, 2020 |
Common Share | 743,013 | 141,144,726,000 | 14.11 | 1,000,000,000,000 | |||||||||||||
| October 31, 2020 |
Common Share | 843,076 | 176,062,624,000 | 17.61 | 1,000,000,000,000 | |||||||||||||
| November 30, 2020 |
Common Share | 927,508 | 218,306,501,000 | 21.83 | 1,000,000,000,000 | |||||||||||||
| December 31, 2020 |
Common Share | 589,704 | 159,173,451,500 | 15.92 | 1,000,000,000,000 | |||||||||||||
| February 28, 2021 |
Common Share | 60,000 | 16,859,588,500 | 1.69 | 1,000,000,000,000 | |||||||||||||
| March 31, 2021 |
Common Share | 329,900 | 99,911,454,000 | 9.99 | 1,000,000,000,000 | |||||||||||||
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| Total |
4,490,069 | 999,990,312,000 | 100.00 | 1,000,000,000,000 | ||||||||||||||
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| 9. | Status of Treasury Shares Holding after the Trust Contract Termination |
| Total | ||||||||||||
| Type of Share |
Number of Shares | Ratio (%) | Amount (KRW) | |||||||||
| Common Share |
11,561,263 | 13.26 | 2,508,297,205,782 | |||||||||
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| Total |
11,561,263 | 13.26 | 2,508,297,205,782 | |||||||||
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| * | The above Ratio is the ratio of treasury shares to the total issued common share of 87,186,835. |
| * | The above Number of Shares is the sum of 7,071,194 treasury shares held in the existing accounts and 4,490,069 shares received in the company’s securities accounts due to termination of the Trust Contract. |
| * | The above Amount (KRW) is the sum of the total value of the existing treasury shares of KRW 1,508,306,893,782 and the total value of the shares under the Trust Contract, terminated April 12, 2021, of KRW 999,990,312,000. |
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.
| POSCO | ||||||
| (Registrant) | ||||||
| Date: April 13, 2021 | By | /s/ Chung, Kyung-Jin | ||||
| (Signature) | ||||||
| Name: | Chung, Kyung-Jin | |||||
| Title: | Head of Finance Office | |||||
