WestRise "Management Rights Transition Smooth...Major Shareholder Changed to Human Wellness"

WestRise announced on the 24th that, following the payment for the capital increase and the completion of the sale of existing shares on the 22nd, the largest shareholder has changed to Human Wellness, the largest shareholder of Motiva Korea, the No.1 domestic breast implant company. Human Wellness holds a 12.97% stake (6,451,612 shares).

If all agenda items, including the appointment of new management such as Lim Shin-young, CEO of Motiva Korea, are approved at the extraordinary general meeting of shareholders to be held on the 31st, the change in management rights will be finalized.

At this extraordinary general meeting, the agenda will include ▲ amendments to the articles of incorporation (company name change, addition of business objectives) ▲ appointment of inside and outside directors, and other non-executive directors ▲ appointment of auditors. The company name will be changed to InkredibleBuzz Inc. The business objectives to be added include ▲ medical device sales ▲ medical device import business ▲ cosmetics sales ▲ wholesale and retail of food and health supplements.

For inside director candidates, Lim Shin-young, CEO of Human Wellness, has been nominated, and for other non-executive director candidates, Wieg Dusse, President of LVMH Group Southeast Asia & Oceania and Vice President of the P&C division, has been nominated. For outside directors, Kim Myung-gu, former Vice President of CJENM E-commerce Division, and Kim Dong-rin, head of LF Networks Distribution Division, have been nominated, and Kim Sung-gyun, CEO of Dodam Accounting Corporation, is expected to be appointed as auditor.

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