Hanmi Science "Shin Dong-guk and 3-Party Alliance Must Stop Obstructing Investment Attraction"

HanmiScience sent a reply on the 26th regarding the certified mail delivered through the law firm Sejong by some major shareholders, including Shin Dong-guk, Chairman of Hanyang Precision, Song Young-sook, Chairwoman of Hanmi Group, and Vice Chairman Lim Joo-hyun.

Earlier, the mother and daughter group, including Chairman Shin Dong-guk, Chairwoman Song, and Vice Chairman Lim, had sent certified mails to HanmiScience twice, on July 29 (related to the extraordinary general meeting) and August 13 (related to the third-party allotment capital increase).

In the reply, HanmiScience first addressed the request by some major shareholders to convene an extraordinary general meeting, stating, “The sudden realization of a management dispute does not occur simply because a request for an extraordinary shareholders’ meeting, which does not meet the requirements, was sent while the company is stabilizing,” and urged, “Shareholders such as Shin Dong-guk must immediately cease obstructive actions against investment attraction necessary for management.”

Regarding the position conveyed by these major shareholders that they would take legal action in the event of a third-party allotment capital increase based on a management dispute situation, the company rebutted, “This is ultimately an attempt to obstruct fundraising and investment attraction through the issuance of new shares by third-party allotment, convertible bonds, and bonds with warrants.”

HanmiScience stated, “Our company needs investment attraction not only to lay the foundation for growth as the only global pharma in Korea through long-term research and development (R&D) investment but also to meet short-term funding needs and reduce debt,” adding, “We believe that Chairwoman Song Young-sook, Vice Chairman Lim Joo-hyun, and shareholders such as Shin Dong-guk are well aware of these circumstances.”

Lim Jong-hoon, CEO of HanmiScience, has continuously advocated for external investment attraction for the development of the Hanmi Pharmaceutical Group. The company conveyed the position that “In the mid-to-long term, to leap forward as a global pharma, mergers and acquisitions of promising domestic and international companies in the life sciences field are necessary, and large-scale investment attraction is inevitable for this.”

In the response, HanmiScience clearly stated, “The obstruction of investment attraction by shareholders such as Shin Dong-guk not only constitutes a breach of contract regarding lawful agreements among major shareholders but also deceives the National Tax Service, which may lead to tax authorities’ measures such as cancellation of payment deadline extensions, and ultimately may cause damage to the company and minority shareholders,” issuing a stern warning.

This content was produced with the assistance of AI translation services.