The largest shareholder of KOSDAQ-listed ALOYS is moving to sell equity. The plan is to end the management dispute by changing the strategic largest shareholder and to leap forward as an AI media platform corporations.
ALOYS said on the 28th that it will transfer 20.2% equity held by Chief Executive Shin Jeong-gwan and Research Center Director Lee Si-young to ROA&CO Holdings. The sale amounts to a total of 11.191984 billion won, or about 1,600 won per share.
ALOYS said the equity transfer is significant not as a simple sale but as the recruitment of a "white knight" to fully support the stabilization of the management system under CEO Shin Jeong-gwan. Through this, the company aims to eliminate the threat of a management dispute and firmly establish its governance structure.
Even with the change in the largest shareholder, the management system under CEO Shin Jeong-gwan is expected to remain. The company also ensured continuity of business by guaranteeing the succession of employment for existing executives and employees. On this basis, it plans to accelerate efforts to restructure beyond the OTT DEVICE business into an AI-based media platform business, and focus on marketing to expand global market share.
ALOYS CEO Shin Jeong-gwan said, "An environment has been created in which we can remove the uncertainty and focus solely on management," adding, "We will repay shareholders who trusted and waited with our results."