Vice Chairman Jungsoo Kim to Sell 42,000 Samyang Foods Shares to Samyang Round Square

Transaction Scheduled for the 30th of Next Month... Worth 41.6 Billion KRW
"Purpose is to Strengthen Holding Company's Control"

Jungsoo Kim, Vice Chairman of Samyang Foods, will sell shares worth 41.6 billion KRW to Samyang Round Square, the holding company. The purpose is to strengthen the holding company's control.

According to the Financial Supervisory Service's electronic disclosure system on April 29, Vice Chairman Kim will sell 42,362 shares of Samyang Foods (representing a 0.56% stake) that he owns to Samyang Round Square through an off-market transaction with a related party on May 30.

Jungsoo Kim, Vice Chairman of Samyang Foods. Yonhap News

The transaction will be conducted off-market, and the base price per share is 982,000 KRW, which is the closing price on the contract date. The total transaction amount is 41,599,480,000 KRW.

After the share transaction is completed, Vice Chairman Kim's stake in Samyang Foods will decrease from 4.33% to 3.76%, while the largest shareholder, Samyang Round Square, will see its stake increase from 34.92% to 35.48%.

The purpose of this transaction is to strengthen the governance structure of the holding company, and there will be no change in the largest or major shareholders of Samyang Foods as a result.

A representative from Samyang Round Square stated, "By increasing its stake in Samyang Foods, Samyang Round Square will be able to strengthen its control," adding, "Vice Chairman Kim will continue to focus on his roles as Vice Chairman of the group and CEO of Samyang Foods as before."