[Special Stock] EntuTech Gains Strength with Entry into Secondary Battery Material Business through Acquisition of Management Rights of G1 Energy

[Asia Economy Reporter Jang Hyowon] N2Tech is showing strong performance following news of acquiring management rights of GN1 Energy.

As of 10:21 AM on the 22nd, N2Tech is trading at 837 KRW, up 25 KRW (3.08%) compared to the previous trading day.

GN1 Energy announced on the 21st that its largest shareholder changed from GNC Energy and one other person to N2Tech and one other person.

Following the fulfillment of the stock transfer contract and completion of paid-in capital increase, N2Tech became the largest shareholder of GN1 Energy. The number of shares owned is 5,002,587, representing a 13.6% ownership stake. The purpose of acquiring the shares is management participation.

According to the electronic disclosure system, GN1 Energy recently disclosed resolutions for convening a shareholders' meeting, announcing the appointment of new directors and changes in business objectives. Newly appointed director Yoo Jaehoon currently serves as vice president of N2Tech and has previously worked as a researcher at NH Investment & Securities and KB Investment & Securities research centers.

The added business objectives include domestic and international investment business, manufacturing and sales of secondary battery materials, manufacturing and sales of electronic and semiconductor materials, energy-saving materials and facility business, manufacturing and sales of eco-friendly automobile parts, salt lake development and extracted mineral sales, salt lake lithium recovery and production process development and sales, and production and sales of materials from recovered metals.