Story of a Big Player from Gangnam-Chapter 907 - Public Announcement on Transferring Ownership Interest (1) – Part 2
Chapter 907: Public Announcement on Transferring Ownership Interest (1) – Part 2
W Chemicals’ CEO said, “But you sold this precious company for a very good price. I want you to know that, and I hope that makes you feel better. With that money, you can acquire any companies, even a public company through M&A.”
“I believe that I can find a lot of companies that I can acquire through M&A now, but the thing is that I’m not quite sure that those companies would generate good profits like Dyeon Korea does.”
“You have a terrific insight in business, Mr. Chairman Goo. I have no doubt that you will find another excellent business.”
“So, you are coming to Dyeon Korea tomorrow morning at 10 am, right? I will summon all of Dyeon Korea’s executive officers by then.”
“Please do so. And, please make a public announcement on the acquisition right after the stock market closes today.”
“You want to announce it today?”
“Yes. Around 5 o’clock would be perfect.”
“Okay. Consider it done.”
‘Sons of bi*ches! They want Dyeon Korea’s stock price to continue to go up and eventually hit the upper limit during the after-hours stock trading market.’
Gun-Ho informed Mr. Adam Castler that the Dyeon Korea’s ownership interest that GH Mobile owned, which was 8.5 shares, had been sold to W Chemicals that day. He also let Dyeon Korea’s Vice President Kim know about it, by sending him a text message.
Gun-Ho then made a call to Dyeon Korea’s internal auditor.
“As of today, GH Mobile’s ownership interest in Dyeon Korea was transferred to W Chemicals. They are 8.5 million shares. Please make this information public at 5 o’clock today.”
“Yes, sir. Sir, is it okay if I make the announcement right now?”
“I prefer to do it after the stock market closes for today. When it comes to very critical information, it’s better to announce it after market hours. If we put the public on notice during the stock market hours, it will create a lot of noises.”
“Understood, sir.”
“And, W Chemicals’ CEO will come and visit Dyeon Korea tomorrow. He will be there at 10 am. Please let the executive officers know about it and have them ready.”
“Tomorrow 10 am, sir? Got it.”
When it was around 6 pm, Gun-Ho was ready to go home for the day. When he stood up from his seat to leave, he received a call from SH Investment Partners’ President Geun-Soo Son.
“Mr. Chairman, Dyko’s stock price hit the upper limit during today’s after-hour stock market. Do you have any idea why this is happening, sir?”
“If the price hit the upper limit again tomorrow, I want you to sell all of our 3.2 Dyeon Korea’s shares.”
“All of them, sir?”
“Yes. Tomorrow, we will see the last fireworks.”
“I see what you mean, sir.”
“When you sell those shares, you have to be careful though, not to cause a price drop. We want to maintain the upper limit price until we sell all of our shares.”
“Got it, sir.”
The following day, on the way to work in Dyeon Korea, in his car, Gun-Ho received a call from SH Investment Partners’ President Geun-Soo Son.
“Sir, the buy requests for Dyeon Korea’s stock started being accumulated even though the stock market hasn’t even opened yet. I think that’s because of the public announcement on the acquisition that was made yesterday.”
“Sell all of 3.2 million shares today.”
“Given the contents of the public announcement, I think Dyeon Korea’s stock will stay strong even tomorrow.”
“Sell all of them today. It’s better that way. We want to sell all of 3.2 million shares today. And, we will let others make money tomorrow.”
“Yes, sir.”
When Gun-Ho arrived at Dyeon Korea, it was around 9:30 in the morning. Gun-Ho was somewhat feeling relieved since he already sold his ownership portion in Dyeon Korea, and he was selling his Dyeon Korea’s shares that he had purchased separately, at the highest price. However, Dyeon Korea’s executive officers look anxious. Their faces were hardened, which was understandable. They were about to meet a new owner that day. That gave Gun-Ho broken heart feelings.
‘I’m sorry that it had to be this way. But, we are living in a capitalist society, and it is what it is.’
Vice President Kim said to Gun-Ho, “Sir, I think we should wait for W Chemicals’ CEO at the building entrance, rather than waiting for him in this president’s office. We want to give him the feeling that we welcome him and show our respect. Mr. Chairman and Mr. President Adam Castler can wait here, but all of the other executive officers should be at the building entrance.”
Gun-Ho said, “Well, I will be waiting for him with you all then.”
Gun-Ho and other executive officers went down to the building entrance. Mr. Adam Castler joined them later since he didn’t know what was going on until the interpreter explained it to him.
When it was 10 am sharp, 2 luxurious black sedans came into Dyeon Korea’s factory yard. The general affairs director and its staff quickly approached the vehicles and opened the doors for them. There were 6 of them with 2 chauffeurs.
‘I thought W Chemicals’ CEO would be here by himself, but he brought 5 of his people.’
Gun-Ho went to W Chemicals’ CEO to greet him with a broad smile on his face and said, “Welcome to Dyeon Korea, Mr. CEO.”
“Oh, you were all waiting for me at the building entrance? You didn’t have to do that, but thank you for your warm welcoming.”
Gun-Ho introduced every single executive officer of Dyeon Korea to W Chemicals’ CEO.
“This is Dyeon Korea’s new president— Mr. Adam Castler. He is American.”
“How do you do? It’s very nice to meet you. I’m W Chemicals’ CEO.”
“This is Vice President Kim. He is overseeing the management as a whole.”
“Oh, Mr. Vice President. It’s a pleasure meeting you.”
Gun-Ho continued to introduce the rest of the executive officers to W Chemicals including the internal auditor, Director Yoon, and Director Hee-Yeol Yoo.
When everyone on Dyeon Korea’s side was all introduced, W Chemicals’ CEO introduced his people. He came with 2 directors and 3 managers. Those 3 managers seemed to be there to understand the actual work of Dyeon Korea’s accounting, sales, and production.
“Well, let’s go to a meeting room upstairs. Shall we?”
Gun-Ho showed them to a small meeting on the second floor. Dyeon Korea’s executive officers sat on one side of the table while W Chemicals’ people sat on the other side of the table, so they could face each other. Once everyone was seated, Gun-Ho once again told W Chemicals’ party about each Dyeon Korea’s executive officer’s name and their responsibilities at work. He then stood up from his seat. He seemed to be ready to leave.
“Well, I guess you don’t need me here anymore. I’d better get going.”
He then turned around to face Dyeon Korea’s executive officers and said, “I want to say thank you all. You have worked so hard to grow this company this far, and I will never forget your faces, your hard work, and your efforts. As you can see, W Chemicals’ CEO is a decent man with a terrific business mindset and philosophy. I hope you all continue to enjoy working here.”
As Gun-Ho gave the last speech to Dyeon Korea’s executive officers, they all stayed quiet. Gun-Ho then held each executive officer’s hand for a handshake one after another. Once Gun-Ho finished having a handshake with the executive officers, W Chemicals’ CEO made a suggestion, “I think we can’t just let Mr. Chairman Goo go like this. W Chemicals’ team and Dyeon Korea’s team have been introduced to each other, so let’s now take a 10-minute break before we resume this meeting. And, during the break, someone might want to take Mr. Chairman Goo to other offices to give farewells to other employees here in Dyeon Korea.”
“I am from the general affairs department. I will take him to the other offices.”
Director Yoon followed Gun-Ho out of the meeting room. Gun-Ho and Director Yoon walked down to the production site. There, Gun-Ho shook everyone’s hand and said goodbye. Manager Ahn from the maintenance team cried while holding Gun-Ho’s hand.
