QUAD Investment Management is an independent, private, discretionary investment management firm. Since 2010, our firm has been investing in Korea equity market on behalf of institutions and individual investors and integrates Korea Stewardship Code (please see http://sc.cgs.or.kr/) in our investment process. We believe engagement is a dialogue amongst investors, the management and the Board pursuing long-term growth approach for companies and sustainable returns for clients.
QUAD Investment Management Announces Hy-Lok Korea Campaign(Stock Code: KS 013030)
PRESS RELEASE PROVIDED BY
February 9, 2023
Calls to Restore Governance Transparency and Enhanced Shareholders Return for All Shareholders
Full Presentation Available at: Paradigm Shift: New Era and New Hy-Lok Korea
SEOUL, SOUTH KOREA / -- QUAD Investment Management(“QUAD”) manages funds that holds an investment representing a 5.0% economic interest in Hy-Lok Korea(KS 013030)(the “Company” or “Hy-Lok Korea”). In the interest of all shareholders, QUAD announces “Paradigm Shift: New Era and New Hy-Lok Korea” campaign to protect and restore shareholders value as a result of suboptimal governance and mismanagement.
QUAD adopted Korea Stewardship Code and in line with the principles, dialogues and engages with its investee companies. In October 2022, QUAD presented to the Board the critical steps to restore shareholders value, including:
On February 7, 2023, as a part of QUAD’s ongoing engagement since its investment, the Company disclosed its cancellation of the outstanding treasury shares. Although QUAD welcomes the Company’s decision, we look forward to continuing and leading the next chapter of restoring shareholders value on behalf of all shareholders. In specific, QUAD believes improving corporate governance independent of the controlling family is critical and is seeking to appoint independent internal auditors at the upcoming AGM.
 Under Korea Commercial Act, buybacks cancellation is not required
The Presentation can be downloaded at Paradigm Shift: New Era and New Hy-Lok Korea
About QUAD Investment Management
QUAD is a Seoul, South Korea based independent, discretionary investment firm founded in 2009. QUAD adopted and integrates Korea Stewardship Code in its investment process. More information about QUAD is available at: http://en.quadim.com
This press release does not constitute a solicitation of a proxy within the meaning of applicable laws, and accordingly, Hy-Lok Korea shareholders are not being asked to give, withhold or revoke a proxy.