Korea Exchange has formally requested that HYBE disclose an official statement on whether it intends on purchasing SMEntertainment shares
In light of the unexpected developments, Lee Soo Man is busily searching for ways to obtain the upper hand.
If HYBE Labels were to side with Lee Soo Man, investment experts predict that HYBE could soon become SM Entertainment's largest shareholder, with Lee Soo Man maintaining a high-standing position as the second largest shareholder. Meanwhile, all executive positions within SM Entertainment's general board will be up for expiration or renewal come March. For Lee Sung Soo and Tak Young Joon, the preferred scenario is for their executive positions to be renewed for an additional three years, with external director stepping down. The position would preferably be then filled by three external directors appointed by Align Partners.
In Lee Soo Man's case, his strategy thus far seems to be to form an alliance with a company which can guarantee SM Entertainment's internal and external growth, while also allowing him to remain in an executive position within the general board. Thus, in order to prevent the market's excessive fluctuations, Korea Exchange is demanding that HYBE Labels publicly disclose its intentions by February 9 at 6 PM KST. In other news,Share this article
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