DMT Approves Temporary General Meeting Proposal as Planned... "New Leap Centered on Yu Jeong-seok, Topco CEO"

[Asia Economy Reporter Jang Hyowon] Topco's acquisition of DMT has been completed.

DMT announced on the 23rd that the payment for the third-party allotment capital increase of 5 billion KRW and the 5th convertible bonds of 20 billion KRW, disclosed on November 9, has been completed. With the completion of the payment, Topco CEO Yoo Jungseok has become the largest shareholder.

Also, at the extraordinary general meeting of shareholders held at DMT headquarters on the same day, agenda items such as company name change, director appointment, auditor appointment, and amendment of the articles of incorporation were approved as originally proposed.

Thus, the change of the largest shareholder and the replacement of the management team at DMT have been virtually completed. Among the appointed directors, CEO Yoo Jungseok and Vice President Kim Kyungsoo are currently registered directors of Topco.

The company name will be changed from the existing DMT to Topco Media, and by adding digital content development, production, distribution, sales, and online and mobile services to the business objectives, it will begin a new leap as a new company.

CEO Yoo Jungseok, who was appointed through this extraordinary general meeting, stated, “As the largest shareholder of the new Topco Media (formerly DMT), a new journey for greater challenges will begin,” and added, “Through synergy with Topco, I plan to grow Topco Media into Korea’s best comprehensive content media company.”