Lumen Bios Approves Extraordinary Shareholders' Meeting Proposals; Largest Shareholder Plans Additional KRW 1.5 Billion Share Purchase

Lumen Bios, an affiliate of the Roa & Co. Group, approved proposals for a capital reduction without compensation and the appointment of a full-time auditor as originally proposed at an extraordinary shareholders' meeting, moving to reorganize its financial structure and strengthen corporate governance. Its largest shareholder is also seeking to purchase additional shares worth approximately KRW 1.5 billion.

Lumen Bios said it held an extraordinary shareholders' meeting at its headquarters in Yongin, Gyeonggi Province, on November 9 and approved a capital reduction without compensation to offset accumulated deficits and the appointment of Ryu Hwanyol as a new full-time auditor.

The capital reduction without compensation is intended to clear accumulated deficits and improve the company's capital structure. The company plans to use the measure to enhance financial stability and focus on strengthening its business competitiveness and securing new growth drivers.

Auditor Ryu Hwanyol, appointed as a full-time auditor, previously worked at the Bank of Korea and served as an executive director in the Audit Division at EY Hanyoung. He currently serves as a representative certified public accountant at the 7th Division of Dasan Accounting Corporation. The company said it aims to strengthen internal controls and accounting transparency by appointing a professional with expertise in accounting and auditing.

Nexturn & Roll Korea, the largest shareholder, plans to purchase approximately KRW 1.5 billion worth of Lumen Bios shares on the open market using its own funds. The planned purchase period runs from December 17, 2026, to January 15, 2027. It currently holds a 27.36% stake, which is expected to increase once the purchase is completed, depending on the actual purchase price and number of shares acquired.

The company said the additional purchase demonstrates the largest shareholder's commitment to responsible management and is intended to establish a stable management foundation.

The company is also pursuing diversification of its business portfolio. While strengthening the competitiveness of its existing light-emitting diode (LED) business, Lumen Bios is exploring business opportunities in next-generation display fields, including Micro LED and Micro RGB.

It also aims to expand into the materials sector and secure new sources of revenue through its ongoing acquisition of control of Polaris Uno. Once the acquisition process is complete, the company plans to review the competitiveness of its existing display business and new businesses, then develop a more specific medium- to long-term growth strategy.

A representative of the Roa & Co. Group said, "This extraordinary shareholders' meeting is an important step toward reorganizing our financial structure and strengthening management transparency. Through the largest shareholder's additional share purchase and the reorganization of our business portfolio, we will focus on establishing a stable foundation for growth and enhancing corporate and shareholder value over the medium to long term."

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