Humasis to Change Major Shareholder to Artist Cosmetic... Small Shareholders' Management Dispute Also Comes to an End

[Asia Economy Reporter Jang Hyowon] Humasis, a company specializing in in vitro diagnostics, is welcoming a new owner after concluding a management rights dispute.

Humasis announced on the 27th that CEO Cha Jeonghak signed a contract to transfer his shares to Artist Cosmetic. Once the contract is completed, Artist Cosmetic will become the largest shareholder of Humasis.

Artist Cosmetic will acquire 2.59 million shares held by CEO Cha and related parties at a price of 25,060 KRW per share, totaling approximately 65 billion KRW. The remaining payment of 58.5 billion KRW is scheduled to be paid on February 28, when the extraordinary shareholders' meeting will be held. At the extraordinary shareholders' meeting, the board of directors designated by Artist Cosmetic will be appointed, transferring management rights.

Artist Cosmetic is engaged in cosmetics manufacturing and management consulting businesses.

Meanwhile, the management rights dispute with the minority shareholders' group has also come to an end. Humasis disclosed on the 27th that all lawsuits related to the management rights dispute filed by the minority shareholders' group have been withdrawn.

A company official stated, “With the arrival of a new owner, the dispute with the minority shareholders' group has ended, allowing for a fresh start,” and added, “Once the new management team is in place, we will announce the future management direction.”