Story of a Big Player from Gangnam-Chapter 897 - Rumors About Acquisition (1) – Part 2
Chapter 897: Rumors About Acquisition (1) – Part 2
After getting off the phone with W Chemicals’ CEO, Gun-Ho continued enjoying his jujube tea. At that moment, he received a call from W Chemicals’ CEO again.
“When our people arrive there, they will request to take a look at the company’s organizational structure and a list of the workers there. You can just hand to them a list of the workers that you currently have. We will need a list that includes everyone from the executive officers to cleaning crew.”
“Understood. When they come here, they probably want to talk to our internal auditor here since our vice president is a foreigner who can’t speak Korean.”
“Okay.”
Gun-Ho asked for Mr. Adam Castler later that day.
“Dyeon Korea’s stock has been categorized as a theme stock as you have already noticed. I think we will see another huge price fluctuation again soon.”
“Is that right?”
“And for that reason, many people suspect that I am somewhat related to politics. I think I’d better remove myself from Dyeon Korea’s business.”
“Huh? What are you suggesting?”
“I think I’d better transfer my ownership interest in Dyeon Korea to a third party. I don’t want to be the center of public attention.”
“Oh, my God!”
“According to our joint venture contract, each partner can transfer their ownership interest at their own discretion. You can inform the head office about my intention to dispose of my ownership interest. I won’t transfer my ownership interest to just anyone, but I am carefully selecting the right buyer. It will be a company that has better financial strength and that is composed of people who have higher business ethics than me.”
“How much per share are you going to sell your shares for?”
“I am still negotiating the price right now.”
“I am interested in the price per share that you would sell yours at. Well, for now, I will tell the head office that our Korean partner is planning to sell his ownership interest to a third party for political reasons.”
“Sounds good.”
After Mr. Adam Castler left the office, Gun-Ho called for the internal auditor. Gun-Ho thought that at least he had to let the internal auditor know about his plan.
“You wanted to see me, sir?”
“Yes. Please have a seat.”
Gun-Ho explained the situation and his intention to sell his ownership interest in Dyeon Korea, to the internal auditor. The internal auditor seemed to be surprised, even though he was already suspecting that something was going on. When he heard about the upcoming visit by W Group’s investigators during the executive office earlier, he knew there would be a big change in the company.
“I did actually suspect the possibility, sir. I guess it turned out to be true. And, I understand that you don’t want to be involved or linked with politics in any forms, given your personality, sir.”
“Well, I feel sorry for the workers here that things have to turn out like this.”
“If a word about W Group acquiring Dyeon Korea is spread out, Dyeon Korea’s stock price will increase again substantially.”
“That’s what I’m expecting as well. And, we have to be careful about it. With the possible acquisition, Dyeon Korea’s stock price will skyrocket. But, if the acquisition fails at the end, we will see a massive price drop. And, that will result in a lot of little investors losing money.”
“That’s why I don’t invest in the stock market at all, sir. We can never know the other party’s cards in this game, can’t we? I’ve been receiving a lot of calls lately from my friends after Dyeon Korea’s stock became a theme stock. And, I always tell them that they shouldn’t invest in the stock market.”
“No stock, no worry, huh?”
Gun-Ho and the internal auditor laughed out loud simultaneously.
After having a good laugh, Gun-Ho said, “I received a call from W Group before you came to my office. They are going to send their people here tomorrow around 10 am. There will be two people showing up. We just need to be kind with them and provide them with documents that they request.”
“The purpose of their visit is to verify the company’s assets, isn’t it? I will have papers ready, which are relevant to our asset status. I will explain to them about our liquid assets and fixed assets.”
“They will also need to look at our organizational structure and a list of our employees.”
“Understood, sir.”
“And, I ensured that they wouldn’t terminate anyone’s employment. I mean any of our workers from our executive officers to the cleaning crew. I asked them to make it in writing. They know what is at stake here. If they don’t keep their words, this acquisition deal will be off.”
“Thank you, sir. I was actually worried about losing my job. For a new owner, an old internal auditor is probably the number one in their list that they want to get rid of.”
“Once they send me the agreement about our employee’s job security, I will give you a copy of it. Instead of trying to remove you from the company, they will talk to you often trying to understand the current status of the company’s business.”
“I am ready for it, sir.”
“You have contributed so much to growing this company. I wish I compensated better for your effort.”
“I am grateful for the opportunity to have worked for this company, sir. Because of you, my time with the company has been extended for two more years. I appreciate it.”
After the internal auditor left the office, Gun-Ho lay down on the sofa.
“Am I done talking with essential people getting ready for the acquisition?”
Gun-Ho stretched himself, and then he extended his legs under the coffee table. At that moment, his phone started ringing. It was from SH Investment Partners’ President Geun-Soo Son.
“Have you checked Dyeon Korea’s stock price today, sir?”
“No, I haven’t. I’ve been busy with an executive meeting today. Is something going on?”
“Someone is aggressively buying Dyeon Korea’s stock again today.”
“Really?”
“The funds that you sent the other day are almost depleted.”
“Okay. I will send you more tomorrow.”
“Dyeon Korea’s stock price is still expensive like over 20,000 won. I wonder why this person is buying that many shares now.”
“Well, he could raise the price all the way up and then throw out all of them that he has. Who knows?”
The following day, Gun-Ho went to work in GH Building, Sinsa Town. He moved 20 billion won from his personal bank account to Seung-Hee sister’s stock account, and then had her transfer that fund to SH Investment Partners’ business account. Once the fund transfer was done, Gun-Ho made a call to President Geun-Soo Son.
“I sent you 20 billion won.”
“It seems that the person slows down a bit. He probably thinks that the price has been raised too high. I’m buying as many shares as I can right now, sir.”
“I guess you will be pretty busy today.”
“No problem, sir. It’s my job.”
Gun-Ho thought that hiring President Geun-Soo Son for the job that he was currently doing was the right decision.
‘Trading stocks is easier said than done. He has to use 10 and 20 billion won to buy and sell the shares. It takes a lot of time, not to mention that it is a very time-consuming work. His eyes will hurt. He probably is having a headache too, and maybe his shoulder as well.’
Gun-Ho made a call to GH Mobile’s Accounting Director Min-Hwa Kim.
“Ms. Director Kim?”
“Oh, sir. I will need two more days before I can finish this year’s performance report. I have a few things that require some modifications.”
“Hmm, alright. I’m calling you today to ask you for something else. Do we have a bank account that we don’t really use?”
“We have five business bank accounts, but they are all in use, sir.”
“Okay, then open one more business bank account, and send me the account information via email.”
“Yes, sir.”
“I need a maximum wire transfer limit for the new bank account. Also, please bring me the OTP device as well.”
“Yes, sir.”
Gun-Ho wanted to have a separate bank account where he could deposit and manage the fund that he would receive once he sold his ownership interest in Dyeon Korea, which would be 272 billion won.
