Agreement Reached on Establishing a Management System Centered on Professional Managers
The management dispute within Hanmi Pharmaceutical Group is expected to come to an end. The largest shareholder group of Hanmi Science, the '4-Party Alliance (Hanmi Pharmaceutical Group Chairwoman Song Young-sook, Vice Chairman Lim Joo-hyun, Hanyang Precision Chairman Shin Dong-guk, and La D?fense),' announced that they have agreed to end the management dispute with Lim Jong-yoon, an inside director of Hanmi Science.
According to Hanmi Pharmaceutical on the 26th, the 4-Party Alliance agreed to purchase a portion (5%) of the shares held by Director Lim and reached an agreement to ▲end the management dispute ▲stabilize the group's governance ▲establish a sustainable management system centered on professional managers.
Both parties also agreed to withdraw all civil and criminal lawsuits filed against each other and to focus on cooperation to enhance the group's corporate value and ensure stable management.
A representative of the largest shareholder stated, "Through this agreement, we expect to promptly stabilize the group's governance issues and largely resolve the overhang issue (potential large-scale stock sales) that has suppressed shareholder value for a long time."
They added, "This cooperation and harmony among major shareholders will not only end the management dispute but also greatly contribute to enhancing shareholder value. Moving forward, Hanmi will pursue sustainable development toward becoming a 'Global Hanmi' with a unified direction, and in this process, shareholder Lim Jong-yoon is expected to actively support the 4-Party Alliance."
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