RE:RE:Interesting The source are the OQP & OQP Bio site and it is google translated from Korean to English.
As you know, OQP trading was suspended due to an audit issue. As a remedy OQP created a spin off; OQP Bio. OQP Bio is an algamation of multiple units including OncoQuest. Until the merger takes place and OQP and/or OQP Bio trades.. QPT.V is not likely to see any money.
Source: https://oqpbio.co.kr/ir/notice/?uid=54&mod=document&pageid=1
OQP Bio is a corporation newly established after the spin-off from OncoQuest Pharmaceuticals on August 25, 2021. In accordance with OncoQuest Pharmaceutical's decision to spin-off, all of the bio intangible assets owned by OncoQuest Pharmaceuticals are removed. Moved to OQP Bio and succeeded.
Source: https://news.mt.co.kr/mtview.php?no=2021072611004671024
According to OQP on the 26th, at the extraordinary general meeting of shareholders held on the 23rd, the proposal of a spin-off of OQP Bio, a bio division, and Dool C&T Holdings, in the investment and manufacturing management division, was approved. The split ratio is 0.678, 0.052, and 0.27 for OQP, OQP Bio, and Dool Mulsan Holdings, respectively. For companies established through spin-off, 83,06,958 shares will be issued, the same as the OQP.
For now, we're spectator to the merger process (OQP Bio) towards the audit resolution (OQP).
Yesterday, there was an update on the merger process from OQP.
https://oqp.co.kr/ir/notice/?pageid=1&mod=document&uid=72
Announcement of merger progress report
The Company obtained approval of the merger agreement with Doool Mulsan Holdings Co., Ltd. at the extraordinary general meeting of shareholders on January 1, 2021, and each company has completed the prescribed procedures accordingly. In lieu of reporting to the general meeting of shareholders, we report the merger.
2022.02.21
Dool Mulsan Co., Ltd.
4th floor, 445, Teheran-ro, Gangnam-gu, Seoul (Samseong-dong, Bonsol Building)
CEO Na Han-ik
Take away: This update its not very clear but it suggests some progress toward the merger.