Korea Kolmar Vice President's Family Sells Nearly All Stock at Listed Price... Kolmar Family Shareholding Adjustment Continues After 'Dispute Ends'
Korea Kolmar executives and their families are engaged in successive stock sales. Following the conclusion of the management rights dispute, as the stock price has risen to near all-time highs, the owner and surrounding figures appear to be executing shareholding adjustments.
According to the Financial Supervisory Service's electronic disclosure system on the 25th, the spouse and child of Han Sang-geun, vice president of Korea Kolmar (registered executive), sold 721 shares of Korea Kolmar common stock through on-market sales on the 21st and 24th over two days. Han's spouse, Hong Mi-ae, disposed of 511 shares and his child, Han Wook-hee, disposed of 210 shares at 130,200 to 130,300 won per share, with total sale proceeds of approximately 94 million won. The shares were purchased under the child's name at 46,250 won per share in September 2020, realizing gains of nearly triple in just over five years.
Following this sale, Vice President Han's shareholdings were reduced to 605 shares. Under the Capital Markets Act enforcement decree, if shareholdings fall below 1,000 shares, the special relationship with the major shareholder is dissolved, so Vice President Han has been removed from the special relationship list with major shareholder Kolmar Holdings as of this date. As a result, Kolmar Holdings' shareholding ratio in Korea Kolmar decreased slightly from 26.55% to 26.54%. There are no changes in shareholdings by Kolmar Holdings itself, Vice Chairman Yun Sang-hyun, and Chairman Yun Dong-han.
The sale size itself is at a level unrelated to management rights. However, in light of adjusting the remaining shares just below the special relationship dissolution threshold, some interpret this as positioning themselves to dispose of shares without disclosure burdens in the future. Korea Kolmar recorded its best second-quarter results and is trading at record highs in the 130,000 won range amid continued institutional net buying.
This is not the first shareholding adjustment around the Kolmar family. Lee Hyun-soo, Chairman Yun Dong-han's son-in-law and husband of former Kolmar B&H CEO Yun Yeo-won, has consecutively sold Kolmar Holdings shares through on-market sales since early last month, lowering his shareholding ratio from 3.02% to the 2.89% range. This contrasts with Chairman Yun and former CEO Yun maintaining their shareholdings unchanged. Former CEO Yun stepped down as representative director and inside director of Kolmar B&H in April and was also excluded from the major shareholder special relationship list in June.
In contrast, Kolmar Holdings Vice Chairman Yun Sang-hyun has been purchasing Kolmar Holdings shares through on-market sales since May, right after the management rights dispute was essentially concluded following his father Chairman Yun Dong-han's withdrawal of a stock return lawsuit, thereby strengthening his control. Industry observers note that following the conclusion of the dispute, a clear pattern has emerged where the winning side is acquiring shares while surrounding figures are adjusting shareholdings at peak prices.