“We will pursue SM 3.0 strategy without wavering despite hostile M&A.”
Strengthening the ‘Electronic Voting Rights Delegation’ function on existing campaign sites
Strengthening the ‘Electronic Voting Rights Delegation’ function on existing campaign sites
On the 6th, SM Entertainment (hereinafter referred to as SM) began to expand communication in earnest about the vision and future plans of SM 3.0 strategy to 'leap forward into a global entertainment company centered on fans and shareholders.'
SM has expanded and reorganized the board proposal campaign website 'SAVE SM 3.0' ahead of the regular general shareholders' meeting on March 31.
Although we have previously provided a bill description and voting rights delegation, this is an attempt to ensure that shareholders can easily understand and judge the overall content of the board's proposal at a glance.
In particular, the campaign name contains a commitment to establish sustainable governance and enhance shareholder value by unwaveringly pursuing the SM 3.0 strategy in a situation where Hive's hostile M&A attempts continue.
SM 3.0 strategy contains the vision of ‘leap forward to becoming a global entertainment company centered on fans and shareholders’, focusing on the transition to a multi-production center and multi-label system, IP monetization strategy, global expansion strategy, and investment strategy. The goal is to achieve separate sales of 1.2 trillion won and operating profit of 430 billion won, and triple the corporate value within three years.
To this end, SM proposed as key agenda items at this shareholders' meeting: ▲establishing a board of directors with the highest level of independence, diversity, and expertise in the country ▲introducing advanced articles of incorporation for sustainable SM development ▲expanding cash dividends to enhance shareholder value.
In particular, as this shareholders' meeting is an important milestone in moving towards management for all shareholders rather than the largest shareholder, we paid close attention to the composition of the campaign website. In addition to the 'Learn about SM 3.0', 'Promise to shareholders', 'Promise to fans', and 'Newsroom' categories that share in detail the vision and plan of the SM 3.0 strategy proposed by the Board of Directors and the elements that shareholders and fans are curious about, , we provided a 'Delegate Voting Rights' link that allows you to look at the agenda in detail and delegate your voting rights, allowing shareholders to vote or delegate their voting rights based only on shareholder value at the general shareholders' meeting.
SM plans to actively share the SM 3.0 strategy and vision to enhance the value of all shareholders, not just specific shareholders, by actively carrying out the 'SAVE SM 3.0' campaign before the shareholders' meeting.
An SM official said, “SM has expanded and reorganized the campaign website to share SM 3.0’s plans and future direction with many stakeholders. “I ask for your support,” he said.
Reporter Junho Yoon, Ten Asia delo410@tenasia.co.kr