SNT Holdings changed the purpose of its equity holding in KOSDAQ-listed SMEC from "simple investment" to "the purpose of influencing management rights," and additionally acquired a 5.46% stake (about 3.72 million shares), it disclosed on the 24th.
Previously, SNT Holdings acquired 14.74% (about 10.05 million shares) of SMEC's stock for simple investment through July 14, becoming SMEC's largest shareholder. With this additional acquisition, SNT Holdings' SMEC equity increased to 20.2%.
On this day, SMEC's share price on the KOSDAQ market rose to the upper price limit. The company said, "To secure future competitiveness, we expanded investment in SMEC, which has technological capabilities in convergent business areas such as machine tools, robots, and Smart Factory," and explained, "We decided to participate in management based on SNT Group's principles of integrity, transparency, and responsible management."
SNT Holdings also added, "We will strengthen communication with stakeholders such as shareholders, customers, and partners in the future, and work to enhance corporate value."
SMEC announced losses for the half year and the third quarter this year after SNT Holdings invested for simple investment purposes. As global competition intensifies in the machine tool and robotics industries, comprehensive innovation is urgently needed, including establishing technology development strategies, streamlining the business portfolio, and improving the rationality of the management system.