BTEN "No Concerns Over Potential Change of Major Shareholder"
BTuen, an AI and big data specialized company (CEO Taeil An), recently dismissed the possibility of a forced sale of the largest shareholder's shares based on a high collateral maintenance ratio.
A BTuen representative stated, "There is no problem with repayment ability, and since the refinancing is proceeding according to the contract, we were able to extend the collateral contract with Y&J Loan," adding, "The talk of a forced sale is groundless."
He continued, "When BTuen Acquisition Purpose J-2nd became the largest shareholder of BTuen last August, more than 40% of the payment for the acquisition of old shares was paid in cash, and currently, nearly half of the total borrowed amount has been repaid," and warned, "If false information is spread, legal action will be taken."
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The BTuen representative also said, "Last year's sales increased by more than 18% compared to the previous year, and we expect even higher sales this year," adding, "Although profits decreased last year due to securing talent and pursuing new businesses, this year we will strive to ensure that the company's stock receives proper evaluation based on the competitiveness we have secured."
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