The second-largest shareholder of UANGEL, a listed company on the securities market, The One MTS, officially announced its participation in management on the 12th, changing its purpose of equity holding from 'simple investment' to 'influence on management rights.'
After the market closed that day, The One MTS disclosed that it changed its holding purpose to 'influence on management rights.' However, its equity holding decreased from 1,328,379 shares (10.07%) to 1,307,919 shares (9.91%), a reduction of about 20,000 shares. The One MTS explained that it reduced the personal equity of CEO Kim Myung-seok and increased the corporate equity of The One MTS.
Currently, the largest shareholders of UANGEL are related persons, including Chairman Park Ji-hyang and CEO Yoo Ji-won (a total of 16.89%), but excluding the Employee Welfare Fund equity of UANGEL (7.50%), it is at the level of 9.39%.
The One MTS emphasized the purpose of declaring its participation in management in UANGEL, stating, "It's to improve the value of the corporation and shareholders for the shareholders who are the owners of the company, and it is not intended to hostilely acquire management rights of UANGEL."
Additionally, that day The One MTS announced shareholder proposals regarding the appointment of directors and auditors and dividends. The One MTS plans to recommend four new internal and external directors and one auditor. It also requested a dividend of 200 won per common share from UANGEL. The proposed resolution is expected to be decided by a vote at the regular shareholders' meeting in March.
A representative from The One MTS said, "To maximize shareholder benefits, we aim to appoint meeting directors and auditors and expand dividends at UANGEL's regular shareholders' meeting," and noted, "We plan to form alliances with numerous minority shareholders to ensure our shareholder proposals are passed."