On the 27th, it was confirmed that former OURHOME Vice Chairman Ku Ji-eun's side attended the OURHOME shareholder meeting to propose the appointment of Ku Ji-eun as CEO and the appointment of shareholder Ku Myung-jin and his children as inside directors. If a majority had been achieved, it would have been an opportunity for Ku Ji-eun's side to take control of the OURHOME board, but there was no change. The result was a rejection.
Ku Ji-eun's shareholder proposal was the first move since the sale of 58% of the OURHOME shares had been contracted to Hanwha Hotels & Resorts. At that time, the sellers were Ku Mi-hyun, chairman of OURHOME, and former vice chairman Ku Bon-sung. Former Vice Chairman Ku Ji-eun and shareholder Ku Myung-jin had been opposed to the sale. Industry insiders anticipated that former Vice Chairman Ku would take legal action regarding the sale contract between Hanwha Hotels & Resorts and other shareholders.
According to the distribution industry, during the shareholder meeting, former Vice Chairman Ku proposed the appointment of shareholder Ku Myung-jin and his child (Jo Hyo-jae) as inside directors as a shareholder proposal. Shareholder Ku Myung-jin proposed the appointment of former Vice Chairman Ku Ji-eun as CEO. However, the vote did not achieve a majority and was rejected.
An industry official noted, "If either Ku Mi-hyun or former Vice Chairman Ku Bon-sung had supported Ku Ji-eun's side, the situation could have changed, but because the contract with Hanwha Hotels & Resorts was progressing, that situation did not occur."
After the shareholder meeting, former Vice Chairman Ku met with the press and emphasized, "The parties to the contract with Hanwha Hotels & Resorts are the sellers, not OURHOME." Former Vice Chairman Ku claimed, "Currently, the contract in question has only been concluded, but the necessary procedures for the existing shareholders' preemptive rights exercise according to the bylaws, as well as board approval, have not been carried out, and the outcome of the transaction remains uncertain."
Furthermore, former Vice Chairman Ku stated, "Even if Hanwha acquires shares from the selling shareholders, Hanwha and its affiliates are separate entities from OURHOME," adding, "The interests of OURHOME and Hanwha must be strictly distinguished. Otherwise, as a shareholder, I cannot remain silent."
On Nov. 11, Hanwha Hotels & Resorts announced through its board of directors that it had entered into a stock purchase agreement (SPA) regarding OURHOME. This involves a sale agreement for approximately 58% of the shares held by Ku Mi-hyun, chairman of OURHOME, and former vice chairman Ku Bon-sung. Hanwha Hotels & Resorts is expected to complete the sale agreement by the end of April.
Former Vice Chairman Ku Ji-eun has taken a stance against the sale of OURHOME equity. In prior correspondence, she expressed, "It is hard to believe all matters regarding transactions of shares between Hanwha and shareholder Ku Bon-sung." She also rejected the accompanying sale proposal presented by Hanwha Hotels & Resorts.