[Edaily Reporter Kim Hyung-il ] #SAMYANG COMTECH CO., LTD., a K-defense bulletproof solutions company, announced on the 14th that it has confirmed the commitment of major shareholders to retain their stakes ahead of the lifting of mandatory lock-up restrictions as it approaches the first anniversary of its KOSDAQ listing.

According to SAMYANG COMTECH CO., LTD., the shares subject to the upcoming release from mandatory lock-up account for approximately 59.5% of the total issued shares. Two corporations affiliated with the largest shareholder hold 43.9%, related parties hold 12.9%, other minority shareholders hold 1.5%, and the employee stock ownership plan holds 1.2%.

Among the shares subject to release, the stakes held by the two entities affiliated with the largest shareholder and related parties account for 56.8%, representing the majority. SAMYANG COMTECH CO., LTD. explained that, ahead of the end of the mandatory lock-up period, it confirmed the future share management plans of these entities and found that both have stated they have no plans to sell their holdings at this time.

SAMYANG COMTECH CO., LTD. emphasized that the expiration of the mandatory lock-up period and the actual sale of shares are separate matters. The company plans to transparently share key management updates and matters related to shareholder value with the market going forward. Additionally, it plans to strengthen its growth foundation by enhancing the competitiveness of its existing bulletproof and protective equipment business, expanding into overseas markets, and increasing production capacity.

SAMYANG COMTECH CO., LTD. official stated, “We take the trust and expectations our shareholders have placed in us since our listing very seriously,” adding, “We will continue to pursue sustainable growth by strengthening the competitiveness of our existing bulletproof and protective business while expanding into overseas markets and increasing production capacity.” The official further added, “We will enhance corporate value and shareholder value through earnings growth and strengthened business competitiveness, and we will continue to engage in active communication with the market.”