Baion Changes Major Shareholder to CTM Corporation

Baion announced on the 3rd that the largest shareholder has changed to CTM Co., Ltd. through a management rights acquisition. CTM and the previous largest shareholder, W Global No.1 Association, signed a stock transfer agreement on November 13 last year.

The company stated, "The largest shareholder has changed following the payment of the balance by Transferor 1 (W Global No.1 Association) under the stock transfer agreement involving a change of the largest shareholder," and "an executive will be appointed at the extraordinary general meeting of shareholders on the 23rd, but nothing has been finalized yet."