Target Im Chang-wook Honorary Chairman Sells 165,000 Shares... "4.8 Billion Won Scale"

[Asia Economy Reporter Hyunseok Yoo] Lim Chang-wook, Honorary Chairman of the Daesang Group, sold Daesang shares on the open market.

According to the Financial Supervisory Service's electronic disclosure system (DART) on the 12th, Daesang announced that Honorary Chairman Lim sold 165,000 common shares on the open market on the 11th.

The average disposal price was 29,043 KRW per share. The total sale amount was 4,792,095,000 KRW.

With this sale, the number of Daesang common shares held by Honorary Chairman Lim decreased from 409,670 shares to 244,670 shares. His shareholding ratio also dropped from 1.18% to 0.71%.

This is the first change in Honorary Chairman Lim's shareholding ratio since April 2017. At that time, preferred shares reached 10 years from the issuance date, and a cash dividend was decided at the shareholders' meeting in March of the same year. Accordingly, the shares were converted into common shares in April, the dividend payment date.

Daesang Holdings, the holding company, and the Daesang Cultural Foundation hold 39.28% and 3.82% of the shares, respectively. Lim Se-ryung, the eldest daughter of Honorary Chairman Lim and who was promoted to vice chairman in March, currently holds 0.46% of the shares.