Korea Kolmar Vice President's Family Disposes of Nearly All Stock at Offered Price...'End of Dispute' Continues with Kolmar Family Shareholding Adjustments
Stock sales by Korea Kolmar executives and their families are continuing. Following the conclusion of the management rights dispute, shareholding adjustments by those close to the owner are ongoing as the stock price rises to near record highs.
According to the Financial Supervisory Service's electronic disclosure system on the 25th, the spouse and child of Korea Kolmar Vice President Han Sang-geun (registered executive) sold 721 ordinary shares of Korea Kolmar on the market over two days on the 21st and 24th. Spouse Hong Mi-ae sold 511 shares and child Han Uk-hee sold 210 shares at 130,200-130,300 won per share, for a total sale amount of approximately 94 million won. These shares were purchased under the child's name at 46,250 won per share in September 2020, realizing nearly triple the gain in just over five years.
Following this sale, Vice President Han's shareholding decreased to 605 shares. Under the Capital Markets Act Enforcement Decree, when shareholdings fall below 1,000 shares, the special relationship with the largest shareholder is severed, so Vice President Han was removed from the list of related parties to largest shareholder Kolmar Holdings as of this date. Consequently, Kolmar Holdings' stake in Korea Kolmar decreased slightly from 26.55% to 26.54%. There were no changes in shareholdings by Kolmar Holdings itself, Vice Chairman Yoon Sang-hyun, and Chairman Yoon Dong-han.
The sale scale itself is unrelated to management rights. However, the fact that remaining shares were adjusted to just below the special relationship severance threshold suggests positioning for future shareholding disposals without disclosure obligations. After recording record results in the second quarter, Korea Kolmar has seen continued institutional net buying, with stock prices rising to record highs in the 130,000 won range.
This is not the first shareholding adjustment by the Kolmar family. Lee Hyun-soo, son-in-law of Chairman Yoon Dong-han and husband of former Kolmar B&H CEO Yoon Yeo-won, has been continuously selling Kolmar Holdings shares on the market since early last month, lowering his stake from 3.02% to the 2.89% range. This contrasts with Chairman Yoon and former CEO Yoon maintaining their shareholdings unchanged. Former CEO Yoon stepped down from her positions as representative director and inside director of Kolmar B&H in April and was excluded from the list of major shareholder related parties in June.
Meanwhile, Kolmar Holdings Vice Chairman Yoon Sang-hyun has been continuously purchasing Kolmar Holdings shares on the market starting shortly after the management rights dispute was effectively concluded in May following his father Chairman Yoon Dong-han's withdrawal of the stock return lawsuit, solidifying his control. Industry observers note that a clear trend has emerged where the winning side is accumulating shares while those close to the family are liquidating their stakes at peak prices following the dispute's conclusion.