Hana Tour Shareholders' Meeting, Appointment of Directors and Dividend of 5,000 KRW per Share

Hana Tour, the No. 1 domestic travel platform, held its 31st regular general meeting of shareholders on the 29th at its headquarters in Jongno-gu, Seoul, and decided to pay a cash dividend of 5,000 KRW per share as of the 2nd of next month. The total dividend amount is 77.44966 billion KRW, and the dividend yield including interim dividends is 7.8%.

This special dividend is due to the recent clear improvement in performance. Hana Tour's sales and operating profit last year were 411.6 billion KRW and 34 billion KRW, respectively. Sales increased by 258% compared to the previous year, and operating profit turned positive for the first time in four years.

Additionally, at the shareholders' meeting, Hana Tour passed the agenda as originally proposed, including ▲the appointment of one new inside director (Kim Chang-hoon, Head of Product Planning at Hana Tour) ▲the reappointment of two outside directors and audit committee members (Han Sang-man, Dean of Graduate School at Sungkyunkwan University, and Kim Moon-hyun, Professor at Hankuk University of Foreign Studies) ▲and approval of the director remuneration limit.

Meanwhile, IMM Private Equity (PE), the largest shareholder of Hana Tour, recently initiated the process of selecting an advisor for the sale of Hana Tour. The sale target is approximately 27% of shares, combining the 16.68% stake held by IMM PE through a special purpose company and shares held by the founder and other related parties. This sale involves the transfer of management rights.

IMM PE became the largest shareholder by participating in a third-party allotment capital increase of Hana Tour at the end of 2019, just before the spread of COVID-19. They invested 128.9 billion KRW to purchase 2,323,000 shares at 55,500 KRW per share. Recently, Hana Tour's stock price rose to 70,000 KRW through improved performance.