The proposal for the appointment of directors suggested by the U.S.-based activist fund Dalton was passed at the Kolmar Holdings regular shareholders' meeting.
Kolmar Holdings announced on the 31st that it approved the proposal to appoint Im Sung-yun, co-CEO of Dalton Korea, as an external director following the results of the shareholders' meeting.
Dalton previously expanded its stake in Kolmar Holdings from 5.02% to 5.69%, changing its purpose of ownership from simple investment to management participation. Dalton said it would "exercise influence in alignment with the company's managerial objectives, considering the interests of shareholders and stakeholders if any matters related to the company's operations arise in the future."
At Kolmar Holdings' shareholders' meeting on this day, the agenda for the approval of the financial statements and the reappointment of internal and external directors was passed as originally proposed. The proposal to distribute a settlement of account dividend of 200 won per common share also passed.