Heo Je-hong, Chairman of L&F, to Purchase 1 Billion Won of Company Shares

Enhancing Shareholder Value and Commitment to Responsible Management

Heo Je-hong, chairman of the L&F medical association, is set to purchase L&F shares worth 1 billion KRW to enhance shareholder value and practice responsible management.

To respond to the decline in L&F's stock price, he will buy L&F shares totaling 1 billion KRW over 10 months starting from September 2024. This purchase decision demonstrates a strong commitment to long-term shareholder value enhancement and responsible management.

Heo Je-hong, Chairman of the Board at L&F

On the 13th, L&F disclosed that Chairman Heo purchased 1,210 shares of L&F on the market, worth 103.09 million KRW. Chairman Heo's holdings increased from 720,326 shares to 721,536 shares. Furthermore, he plans to accumulate stock purchases totaling 1 billion KRW over 10 months until June 2025.

Following CEO Choi Su-an's stock purchases over the past year, the management team is expressing their commitment to responsible management through continuous repurchases of company shares.

L&F explained that this decision reflects the execution of responsible management to recover corporate value, which was sharply adjusted due to recent uncertainties in the secondary battery industry, and that this effort will be sustained rather than a one-time action.

An L&F representative stated, "This measure is taken with a sense of responsibility toward the stock price, which is excessively low compared to the company's fair value, to send a positive signal about the future stock price. By purchasing company shares, the management is demonstrating confidence in the company's future growth prospects and striving to increase long-term corporate value."