Hanmi Science: NPS Sides With Mother (Chairwoman) And Daughter

• After the market close on 26 March, it was reported that NPS has decided it will side with Chairwoman Young-Sook Song (mother) and her daughter Ju-Hyun Lim.

• As a result, Chairwoman Young-Sook Song (mother) and Ju-Hyun Lim have secured 40.86% of the shares, which is slightly higher than the ownership of her two sons (38.4%).

• In the near term, this battle for the control of the company could have a positive impact on Hanmi Science's share price.

After the market close on 26 March, it was reported that National Pension Service (NPS) has decided it will side with Young-Sook Song (mother) and her daughter Ju-Hyun Lim. As a result, Chairwoman (of Hanmi Science) Young-Sook Song (mother) and Ju-Hyun Lim have secured 40.86% of the shares, which is slightly higher than the ownership of her two sons (38.4%). NPS currently holds a 7.91% stake in Hanmi Science.

Therefore, this battle between the two sides is likely to heat up again as it remains a very close call as to who will win this battle. NPS has decided that the plan set forth by Chairwoman Young-Sook Song (mother) is more suitable for enhancing long-term shareholder value of Hanmi Science.

In the near term, this battle for the control of the company could have a positive impact on Hanmi Science's share price.

NPS decided on a 'yes' vote on the appointment of executive directors Lim Joo-hyun and Lee Woo-hyun, the appointment of other non-executive directors Choi In-young, the appointment of outside directors Park Kyeong-jin, Seo Jeong-mo, and Kim Ha-il, and the appointment of audit committee members Park Kyeong-jin and Seo Jeong-mo.