Helixmith, Glass Lewis "Support Appointment of Director Park Young-joo, Recommend Opposing Dismissal of Current Outside Director"

[Asia Economy Reporter Jang Hyowon] The world's two major proxy advisory firms, Glass Lewis, expressed support for the appointment of Dr. Park Young-joo, an inside director candidate recommended by Helixmith, and opposition to the dismissal of outside directors proposed by the minority shareholder coalition.

Helixmith announced on the 23rd that Glass Lewis released its proxy advisory report (Glass Lewis Proxy Paper Research Report) regarding the agenda for Helixmith's annual general meeting scheduled for the 31st.

Glass Lewis opposed the dismissal of the two current outside directors proposed by the minority shareholder coalition, explaining that there was insufficient basis for their removal and that the coalition failed to provide evidence that the two outside director candidates they proposed were more appropriate.

Regarding the approval of the financial statements, Glass Lewis took a negative stance. This was because Helixmith's audit report had not been disclosed as of last week, the time of Glass Lewis's judgment.

This report from Glass Lewis is expected to have a significant impact on shareholders ahead of Helixmith's annual general meeting. Glass Lewis is a global proxy advisory firm serving over 1,000 institutional investors, including national pension funds, and holds considerable influence over foreign investors' voting decisions. This authoritative report from a major global advisory firm provides important grounds for key institutional investors and shareholders of Helixmith in making their voting decisions.

Yoo Seung-shin, CEO of Helixmith, said, "It is significant that both of the world's two major proxy advisory firms, Glass Lewis and ISS, have supported the company's proposals," adding, "We will do our best to gain recognition for the company's rationality and sincerity through major domestic and international proxy advisory firms, including Glass Lewis and ISS."

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