 |
Lim Jong-hoon, CEO of Hanmi Science (photo=Hanmi Science) |
[Alpha Biz= Reporter Kim Jisun] Hanmi Science CEO Lim Jong-hoon Urges “Three-Person Alliance” Led by Chairman Shin to Clearly Define Their Demands for Extraordinary Shareholders' Meeting
Hanmi Science CEO Lim Jong-hoon has requested that the “three-person alliance,” led by Chairman Shin Dong-guk, clarify their demands for an extraordinary shareholders' meeting aimed at expanding the board of directors.
During a meeting with minor shareholders’ representatives at the Hanmi Pharmaceuticals headquarters in Songpa-gu, Seoul, on the 13th, Lim stated that he had sent a query to the alliance asking what their objectives are with the board expansion and who the new board members they wish to appoint are. However, he had yet to receive a response.
Lim emphasized that while it is appropriate to hold a shareholders' meeting if shareholders with significant stakes request it, the company and board cannot open the meeting without knowing whether the proposed changes are agreeable or how to respond. He noted that it is difficult to discuss holding a meeting without clear answers.
He added, “If Chairman Shin wishes to control the board directly, I would like to understand the reasons behind that. If it is merely for personal desire, it seems unjustifiable.”
Lim also expressed hope that the situation would not escalate to legal procedures if the three-person alliance attempts to obtain a court order for the meeting.
After seizing control of the group's management in March with his brother Lim Jong-yun, Lim Jong-hoon has been exploring various strategies for the company’s future, including investment attraction, with global advisory firms. He mentioned that he tried to explain these plans to his mother, Chairman Song Young-sook, in May but was unable to secure a meeting due to delays from her side.
Lim also sought to present the investment plans to Chairman Shin but was met with resistance. Last month, the three-person alliance announced their intention to establish a professional management system.
The investment proposal Lim intended to present includes creating a special purpose vehicle with global private equity firm KKR to co-manage with the major shareholders, followed by KKR’s exit and the transfer of management rights entirely to the major shareholders after a certain period.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
