[Alpha Biz=(Chicago) Reporter Kim Jisun] Lim Jong-yoon, president of Hanmi Science, who opposes the merger between Hanmi Group and OCI Group, filed an application with his younger brother, Lim Jong-hoon, to the Suwon District Court on the 17th for an injunction to ban the issuance of new shares.

In other words, the dispute over the management rights of the Hanmi Group signaled a full-fledged start. The eldest son and second son of Hanmi Group Chairman Song Young-sook, Lim Jong-yoon and Lim Jong-hoon, currently hold 12.1 percent and 7.2 percent of Hanmi Science, the holding company of Hanmi Pharmaceutical, respectively.

Jipyeong, a law firm, was appointed as a legal representative.

Hanmi Group and OCI Group signed a contract with OCI Holdings on the 12th to secure a 27.0% stake in Hanmi Science (18.6% of old and in-kind shares and 8.4% of new shares), and for major shareholders of Hanmi Science, including President Lim Joo-hyun, to acquire a 10.4% stake in OCI Holdings. After the inter-group merger, CEO Lim Joo-hyun has secured a 10.4% stake in OCI Holdings, making him the largest shareholder as an individual, while Hanmi Science serves as an intermediate holding company for OCI Group.

The injunction calls for a ban on third-party allocation capital increase conducted by Hanmi Science against OCI Holdings. OCI Holdings will secure 8.4% of the shares (27.0%) of Hanmi Science to be secured through an integrated contract through a three-party allocation.

 

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