Doosan Enerville Appeals to Support 'Bobcat Split-Merger Plan'

Doosan Efficiency has repeatedly appealed for support from shareholders ahead of an extraordinary shareholders' meeting on a business reorganization plan to separate Doosan Bobcat and incorporate it into Doosan Robotics.

Doosan Efficiency also posted a rebuttal on its website today (3rd) against the second shareholder letter under the name of CEO Park Sang-hyun and the voting advisory firm that made the opposing recommendation.In a letter, CEO Park

said, "We can secure hundreds of billions of won in investment needed by expanding orders for small module reactors and gas turbines," and explained the reason for the divisive merger, including raising the merger ratio and creating internal synergy.

In response to ISS, an advisory firm that recommended opposition to the divisive merger, it countered that the divisive merger was not for the strengthening or profit of major shareholders.

Doosan Efficiency will hold an extraordinary general shareholders' meeting on the 12th to vote on these divisive mergers.