Hanjin Shipping announced that PVP (PVP V Labuan Ltd.) had notified exercise of warrant from previously issued BW (Bond with Warrant). 
The requested volume is 7,898,800 shares, which is 9.92% of Hanjin Shipping's total shares and which leaves 4,841,200 (5.73%) shares as the remaining BW. Total number of convertible shares can be 12,740,000 (Above percentage is calculated by diluted basis).
Meanwhile, due to the stock increase caused by this exercise, the total outstanding stocks of Hanjin Shipping will increase from 71,714,146 to 79,612,946 shares. 
PVP, the owner of this subject BW, is known as a Malaysian investment company and in accordance with the BW issuance contract between PVP and Hanjin Shipping settled in 2001, both Hanjin Shipping and PVP fully agreed to co-exercise of the right of decision-making obtained from the exercised stocks. And thus, PVP is considered as a management-friendly stock holder.  
According to PVP, it does not plan on selling the stocks in the near future, which means that the possible fall of the current stock price caused by the stock increase is expected to be less likely.  
However, Hanjin Shipping, paying close attention to the possible impact on the existing stocks, plans to take all necessary and positive actions such as share repurchase from the market through the existing trust contract so as to stabilize the current stock price as much as possible.