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 2017

Commission File Number: 000-53445

 

 

KB Financial Group Inc.

(Translation of registrant’s name into English)

 

 

84, Namdaemoon-ro, Jung-gu, Seoul 04534, Korea

(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.

 

 

 

Termination of Trust Agreement for Acquisition of Treasury Shares

On April 14, 2017, the board of directors of KB Financial Group Inc. (“KB Financial Group”) resolved to terminate the trust agreement it had entered into on August 3, 2016 to acquire treasury shares.

 

Total Contract Amount (KRW)   Before Termination      500,000,000,000
  After Termination      0
Contract Period (Before Termination)   Effective Date      August 3, 2016
  Termination Date      August 2, 2017
Reason for Termination      Early termination to facilitate efficient fund management and improve stock liquidity
Counterparty      Samsung Securities Co., Ltd.
Expected Date of Termination      April 17, 2017
Method of Return of Trust Properties upon Termination      Return of cash and treasury shares
Number of Treasury Shares Held Prior to Termination   Acquisitions from Profits Available for Dividend   Common Shares (percentage)      21,517,802 shares (5.1%)
   

 

Other Shares

     

 

—  

 

 

Other Acquisitions

  

 

Common Shares (percentage)

     

 

28,511 shares (0.0%)*

 

*  Fractional shares resulting from the allocation of new shares in a stock swap on October 19, 2016

    Other Shares      —  
Date of Resolution by the Board of Directors      April 14, 2017
Non-executive directors      Present: 7
     Absent: 0
Other Matters to Consider Before Making an Investment Decision   •    After the termination of the above trust agreement, there will be no outstanding trust agreement that KB Financial Group entered into to acquire treasury shares.
      •    Prior to termination, the total number of treasury shares held by KB Financial Group is 21,546,313.

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.

 

   

KB Financial Group Inc.

    (Registrant)

Date: April 14, 2017

    

By: /s/ Jae Keun Lee

    (Signature)
    Name:     Jae Keun Lee
    Title:     Managing Director and Chief Financial Officer