Kim Jangwoo, CEO of EcoPro BM: "We Will Secure Nickel to Establish Cost Competitiveness in Cathode Materials"

EcoPro BM Hosts Shareholders' Meeting for Retail Investors

High-Nickel Cathode Material Supply to European OEMs Nears Completion

"Revised Registration Statement to Be Submitted with Enhanced Disclosure on Use of Proceeds"

Kim Jangwoo, CEO of EcoPro BM, personally apologized for shareholders’ dissatisfaction resulting from the decline in share price and pledged to reward them by enhancing shareholder value. He stated that none of the proceeds from the rights offering would be used to repay existing debt and instead declared, “We will secure nickel, the core raw material for cathode materials, to achieve unmatched cost competitiveness in advanced cathode materials.”

Kim Jangwoo, CEO of EcoPro BM, is presenting the future blueprint of EcoPro BM at the shareholders' meeting. Photo by EcoPro

EcoPro BM announced on the 17th that it had held a corporate presentation for retail investors at 2:00 p.m. on the 16th at the NH Investment & Securities headquarters in Yeouido, Seoul. The purpose of the event was to explain to retail investors the background and details of the company’s ongoing rights offering and its capital-raising objectives.

CEO Kim said, “The recent decline in the stock price has undoubtedly caused considerable disappointment for our shareholders. Until the day all shareholders can smile again, I will do my utmost to enhance corporate value.” He further commented on customer orders, saying, “We are currently conducting sample testing for customers, so I expect that orders will soon become tangible.”

It was revealed that EcoPro BM is set to supply high-nickel cathode materials to leading European automotive manufacturers through its factory in Hungary, which benefits from EU internal regulations.

At the meeting, CEO Kim reiterated, “Based on the funds raised from the rights offering, we will invest in the Indonesian smelter, secure nickel—the key raw material for cathode materials—and establish unmatched cost competitiveness in advanced cathode materials.”

He added, “All proceeds from the rights offering will be used for acquiring nickel equity, facility investment in Hungary, and investments in the mid-nickel line conversion. None of the rights offering proceeds will be used for repaying existing debt.”

Regarding the revised registration statement submitted to the Financial Supervisory Service, CEO Kim said, “While I cannot disclose specific details, I understand that the main intention is to ensure comprehensive investor protection. We will promptly supplement information on the use of proceeds and plan to submit within this month.”

This content was produced with the assistance of AI translation services.