SNT Holdings Issues Official Statement on Smac Treasury Share Disposal

"Exercising Shareholder Rights in Line with Long-Term Development"

SNT Holdings has issued an official statement to clarify the facts regarding certain claims and reports related to Smac's recent disposal of treasury shares.

SNT Holdings asserted that Smac's board of directors disposed of treasury shares to friendly parties either free of charge or at a discounted price, causing losses to the company and all shareholders.

The company explained that, in this process, the current controlling shareholder secured a friendly stake equivalent to approximately 3.9% without injecting additional funds, and that this differs from the previously disclosed purpose for holding treasury shares and the disposal plan.

In contrast, SNT Holdings stated that it issued exchangeable bonds to professional institutional investors, using treasury shares and subsidiary shares as underlying assets, at a premium to the reference stock price, with the aim of strengthening the holding company structure and securing resources for future new technology investments. As a result, the company expects its separate net asset value per share to increase by about 7,400 KRW, which is approximately 13.9% higher than the previous day's closing price.

SNT Holdings also refuted media assessments that described its management approach as focused on "short-term efficiency and restructuring after acquisitions," stating that this is not true. The company argued that SNT Group has pursued normalization and long-term growth by acquiring undervalued companies facing management difficulties and then focusing on field-oriented management and strengthening technological competitiveness.

Specifically, SNT Dynamics succeeded in turning a profit within a year after being acquired out of court receivership through management improvements and the recovery of technological capabilities. SNT Motiv, meanwhile, has grown into an affiliate covering both civilian and defense sectors by expanding its global customer base and shifting its business focus to future mobility components.

SNT Holdings stated that it will continue to pursue sustainable growth based on technological and manufacturing competitiveness. The company also emphasized that it respects Smac's corporate value and technological competitiveness, and will exercise shareholder rights in a manner that aligns with the interests of all shareholders and the company's long-term development.