Minimum Dividend Increased by 25%,
Half of Treasury Shares to Be Cancelled
Minority shareholders of Emart have urged the company to disclose concrete implementation plans and progress regarding its value enhancement plan (Value-Up Program).
On the 13th, Act, a shareholder action platform, announced that Emart minority shareholders plan to send a second shareholder letter with these contents on the 14th.
This is a follow-up measure to the first shareholder letter sent earlier this year in collaboration with the Economic Reform Alliance, aimed at enhancing Emart's shareholder value. The initial letter included demands such as ▲cancellation of all treasury shares ▲establishment and disclosure of the Value-Up Program ▲introduction of cumulative voting ▲reporting and approval of executive compensation policies at the general meeting of shareholders ▲allowance of advisory shareholder proposals.
On the 11th, Emart partially accepted these demands and announced a corporate value enhancement plan, which was welcomed by shareholders who also called for disclosure of detailed implementation measures. Emart's announced Value-Up Program includes ▲raising the minimum dividend per share from 2,000 KRW to 2,500 KRW ▲cancellation of more than 50% (560,000 shares) of the company's treasury shares.
A total of 131 minority shareholders participated in Act's recent action, holding a combined stake of 1.02% (283,960 shares).
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