Wijit continues acquiring shares of affiliate TScientific... "Commitment to responsible management"

Wizit, the largest shareholder of T Scientific, demonstrated its commitment to responsible management of its subsidiary amid a management rights dispute by expanding its stake.

According to the Financial Supervisory Service's electronic disclosure system on the 16th, Wizit purchased a total of 3,812,647 shares on the market from November 2 to 15. It bought 2,627,399 shares from November 2 to 6, and even after the effective trading day of the record date for the voting rights at the T Scientific management rights dispute extraordinary shareholders' meeting scheduled for December 4, it purchased an additional 1,185,248 shares on the market from the 7th to the 15th.

Furthermore, considering the stock price as of October 31, despite limited economic benefits, the conversion of 1,265,822 common shares from the 17th convertible bond call option of T Scientific was carried out, increasing the stake of Wizit and its special related parties from 22.55% before the November 2 purchase to 28.1%.

A Wizit representative stated, “In the current management rights dispute situation of our affiliate T Scientific, some groups are indiscriminately spreading malicious false incitement or blindly criticizing the largest shareholder through various shareholder communication channels such as portal site securities bulletin boards. Additionally, suspicious trading patterns that suggest market manipulation have been detected.”

Accordingly, the company plans to thoroughly investigate whether some groups have violated the Capital Markets Act or engaged in fraudulent and unfair trading to prevent further damage to general shareholders, and will actively respond to relevant judicial and supervisory authorities if necessary.

The Wizit representative added, “As the largest shareholder, we will take responsibility and contribute to strengthening continuous control and enhancing shareholder value to promptly realize IT-based future growth businesses that can create synergy with T Scientific’s current core business in the security sector.”