Prepare an e-authorization page for SM's shareholders' meeting on the 31st.
Source: Hype
HYBE opened a page to enhance SM Entertainment's shareholder value and started attracting public attention for SM's regular shareholder meeting scheduled that take place on the 31st.
On February 10, HYBE Entertainment officially confirmed the acquisition of 14.8% stake in SM Entertainment from the company's founder - Lee Soo-man, for 422.8 billion won (approximately 334.3 million won USD).
This time HYBE's shareholder proposal campaign is prepared based on the judgment that SM's current management is violating shareholder value. Referring to the unfair business cooperation contract with Kakao, the unrealistic financial goal of 'SM 3.0' can only be achieved with rapid growth in a short time, the emotional message strategy loses public opinion, while enhancing professionalism and transparency in management.
In particular, the preparation of the electronic credentials page attracts attention. It is understood as the intention to easily delegate voting rights held by individual shareholders at SM's shareholder meeting so that anyone can exercise his or her shareholder rights regardless of the number of shares held. how much..
There are a total of eight candidates for the board of directors proposed by Hibe. Jinsoo Jeong, CEO of CLO and Jaesang Lee, and Jinha Lee, Head of Business Planning Department at Hibe, are nominated as internal director candidates.Gangnam-kyu, representative attorney at Law Firm Gaon, Soon-man Hong, professor of public administration at Yonsei University, and Lim Dae-woong, representatives of the United Nations Environment Program Financing Initiative in Korea, were nominated as party directors. outside. As for other non-executive board members, Park Byeong-moo, CEO of VIG Partners, and Choi Gyu-dam, former CEO of NC Soft, are proposed as audit candidates. Finally, HYBE emphasizes that it will focus on enhancing shareholder value through a policy of shareholder compensation and return that has a mutually beneficial relationship between shareholders and management. Internal director candidate Lee Jae Sang said, "We plan to apply a compensation system to maintain SM's 30% net profit for the next three years and improve the balance of growth in the companies of shareholder."
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