The major shareholder of Jaeyoung Solutec, a company specializing in camera actuators, has demonstrated a strong commitment to responsible management through steady expansion of their stake.
On the 1st, Jaeyoung Solutec announced that CEO Kim Seung-jae exercised a call option (put right) worth 100 million KRW on the 12th series of convertible bonds (CB). The acquisition price was 662 KRW per share, with a total of 151,057 shares acquired. The combined shareholding of the largest shareholder Jaeyoung Itech and its special related parties increased by 0.14% to 20.8%.
This share purchase was decided based on CEO Kim’s judgment that the stock price was significantly undervalued. Despite the exercise price being higher than the current stock price, CEO Kim secured additional shares through the call option.
Furthermore, the management of Jaeyoung Solutec is showing confidence in the company’s growth potential through consecutive share buybacks.
CEO Kim and Jaeyoung Itech have expanded their stakes through multiple on-market purchases, CB conversions, and convertible bond with warrants (BW) exercises. On June 28, CEO Kim also exercised the CB call option in the same amount as this acquisition. Over the past five years, the cumulative amount spent on share repurchases totals 3.25 billion KRW by CEO Kim and 4.03 billion KRW by Jaeyoung Itech, reaching a total of 7.3 billion KRW.
CEO Kim stated, “Despite the recent expansion of actuator supply to Samsung Electronics and the recovery in sales of the plastic mold division, I judged that the company’s growth potential was undervalued. Going forward, I will continue to strengthen responsible management and enhance shareholder value through steady share repurchases whenever opportunities arise.”
Meanwhile, on the 11th, Jaeyoung Solutec announced that it will supply optical image stabilization (OIS) modules for Samsung Electronics’ new smartphone, the Galaxy S23 FE (Fan Edition). The company is laying the foundation for external growth by expanding its OIS supply models for Samsung Electronics from entry-level to flagship models.
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