Sujentec Acquires Additional CEO Shares... "Dispelling Concerns Over Margin and Sales"
[Asia Economy Reporter Hyunseok Yoo] SuzenTech announced on the 3rd that CEO Son Mijin acquired 102,911 shares of the company's stock. Through this acquisition, CEO Son's shareholding increased to 11.76%.
CEO Son exercised call options to acquire 51,456 common shares and 29,702 preferred shares, then converted the preferred shares into 51,455 common shares, resulting in a total acquisition of 102,911 common shares. The total number of shares held by CEO Son increased to 1,606,549, representing a 11.76% stake.
A SuzenTech official stated, "By exercising the call options on shares issued in September 2018, the number of shares and shareholding ratio have increased. Amid expectations of record-high performance this year through exports of COVID-19 antibody diagnostic kits, the call options were exercised on shares previously held by institutional investors to enhance shareholder value and strengthen management control."
He added, "This additional acquisition of shares signifies confidence in the company's growth. SuzenTech has no issues related to margin reduction or sales slowdown caused by rising raw material prices, which the market has been concerned about."
He further noted, "SuzenTech's rapid diagnostic kits continue to achieve record-high monthly sales, and there are no concerns about margins due to increased costs."
Recently, as the global supply of diagnostic kits has increased, demand has shifted from indiscriminate requests for diagnostic kits to increased demand for verified diagnostic kits like those from SuzenTech.
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Supporting this, SuzenTech's production volume has steadily increased since April, with May exports surpassing April's record high. With additional product supply requests rising, the company has secured all raw materials needed to supply products through the end of July to fulfill already secured orders. In June, the company is stably producing 2 million units per week, its maximum production capacity, and continuous performance improvement is expected.
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