EXHIBIT 99.4 [English Translation] February 25, 2003
EXHIBIT 99.4
[English Translation]
February 25, 2003
Hanaro Telecom, Inc.
Cancellation of Stock Purchase Option Rights Grant
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Details of Grant Number of stock options 829
granted to employees
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Number of shares Common shares 1,810,642
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Preferred shares --
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Date of BOD resolution February 25, 2003
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Officers and employees subject to Xx. Xxxxxxx Xxxx and 40 other employees
cancellation
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Number of cancelled shares Common shares 89,489
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Preferred shares --
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- Reason for cancellation
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Cancellation is applicable to employees who
left the Company within 2 years of
employment from the date of the grant.
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Cancellation is applicable to directors who
voluntarily resigned the Company before
3-year period has passed.
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Details of Cancellation - Legal Ground : Section 6 of Article 9-2,
Articles of Incorporation of Hanaro Telecom
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The stock purchase option rights may be
cancelled by a resolution of the Board of
Directors;
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Ground for cancellation 1. If the officer or employee conferred with
the stock purchase option rights hereunder
resigns voluntarily or discharges from the
officership; or
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2. If the officer or employee conferred with
the stock purchase option rights hereunder
inflicts substantial or material damage on
the Company by his/her willful misconduct or
negligence; or
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3. If any of the causes for the cancellation
of stock purchase option rights as set forth
in the Stock Option Agreement occurs.
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Details of cancelled stock Exercise March 18, 2003 -- March 17, 2008
purchase option rights period
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Exercise KRW17,750
price
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