"Expecting Genuine Enhancement of Corporate Value...
Superficial Remarks for Evasion Are Unacceptable"
Activist fund Stride Partners recently expressed both welcome and concern on the 25th regarding statements made by HPO audit committee candidate Kim Gap-ho about enhancing corporate value.
Candidate Kim recently mentioned shareholder-friendly policies such as differential dividends, expanding floating shares through dilution of the largest shareholder's stake, and increasing dividend payout ratios. These align significantly with the directions that Stride Partners has continuously demanded from HPO.
In response, Stride Partners stated, "In particular, the proposal to attract financial investors (FI) or strategic investors (SI) to dilute the largest shareholder's stake and secure marketability and transparency is something our firm has consistently emphasized," expressing a positive stance.
However, they expressed concern, saying, "The company, which has repeatedly responded with 'under review' for years, only made related remarks when the shareholder-nominated audit committee appointment was put on the agenda for the general meeting of shareholders, casting doubt on the sincerity."
Stride Partners also expressed regret regarding the speaker of the remarks. They emphasized, "It is inappropriate that major corporate plans were disclosed through statements by an audit committee candidate who has not yet been appointed and not through the company's official position," calling it "a superficial response to mislead shareholders."
They added, "True change in the company must be achieved through concrete plans and official positions at the board level. Remarks aimed at short-term evasion like this are undesirable."
Stride Partners reiterated that one of the core goals of this shareholder activism campaign is the recovery of company and shareholder value, and that the starting point is the appointment of an independent external auditor.
Stride Partners urged shareholders to actively exercise their voting rights, stating, "Management and an independent external auditor are the keys to restoring trust in HPO and achieving substantive change."
Meanwhile, the agenda for appointing HPO's audit committee member is scheduled to be decided at the regular general meeting of shareholders on the 31st.
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