Sampyo Cement to Pursue Transfer from KOSDAQ to KOSPI Market

[Asia Economy Reporter Hyungsoo Park] Sampyo Cement is moving from the KOSDAQ market to the KOSPI market.

Sampyo Cement announced on the 13th that it held a board meeting on the 12th and resolved to hold an extraordinary general meeting of shareholders to discuss the transfer listing. The extraordinary general meeting will be held on July 4.

Along with the transfer listing, Sampyo Cement plans to strengthen the professionalism and transparency of board-centered management. It will operate an Internal Transactions Committee and an Outside Director Recommendation Committee directly under the board and promote ESG management by expanding management transparency.

The Internal Transactions Committee focuses on reviewing internal transactions that inevitably occur within the Sampyo Group. The committee examines the transparency and appropriateness of large-scale internal transactions, self-dealing under the Commercial Act, and transactions with related parties. The committee consists of two outside directors and one inside director, and the results of the Internal Transactions Committee’s review will be regularly reported to the board. By establishing the Outside Director Recommendation Committee, Sampyo Cement aims to secure transparency and independence in recommending outside director candidates, thereby realizing ESG management.

Sampyo Cement will complete preparations and submit a preliminary listing examination application to the KOSPI Market Division of the Korea Exchange. It explained that it plans to officially begin the transfer listing process. A company that meets the legal requirements under the Commercial Act will submit the agenda at the extraordinary general meeting of shareholders, and upon approval, it plans to delist from the KOSDAQ market and list on the KOSPI market conditionally upon approval from the KOSPI Market Division.

A Sampyo Cement official explained, "The transfer listing aims to maximize shareholder value by enhancing corporate value through the activation of stock trading and the inflow of institutional investors."

He added, "As corporate social responsibility and eco-friendliness have become global policy trends, strengthening the foundation for sustainable growth, such as transitioning to an eco-friendly system, is also a reason for promoting the transfer listing."

The official emphasized, "We will complete the transfer listing process and grow as a leading company in the cement industry through transparent management."