SEOUL, South Korea, March 31, 2025 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has announced that it has today held its 36th Annual General Meeting (AGM) at its Yugu office in Gongju City, Chungcheongnam Province, South Korea.
During the AGM, shareholders approved key agenda items that included the ratifying of financial statements, consolidated financial statements and statements of the appropriation of retained earnings; the appointment of outside directors; the appointment of audit committee members; the approval of limitations on directors' remuneration; and capital reduction for the purpose of treasury shares' cancellation.
Shareholders also rejected Align Partners Capital Management Inc.'s ("Align Partners") proposal to introduce a cumulative voting system. A Coway official stated, "Our shareholders have reaffirmed that the current board operation ensures sufficient operational independence and transparency, making it suitable for ongoing sustainable growth and shareholder value enhancement."
As part of its mid-to-long-term shareholder return policy, Coway approved the retirement of approximately 650,000 treasury shares. The company also announced plans to continue repurchasing and canceling treasury shares to significantly increase the total shareholder return rate from 20% to 40%, alongside other measures designed to further enhance shareholder value.
This year's AGM also saw Coway appoint Jungho Kim, Professor at the Graduate School of International Studies of Korea University, and Taehong Kim, CEO of Growth Hill Asset Management Co., Ltd., as new outside directors, while Gilyeon Lee was reappointed to the same role. Taehong Kim and Gilyeon Lee have also been appointed as audit committee members, while Align Partners' nominee for outside director and audit committee member voluntarily resigned, resulting in the agenda item's dismissal.
Jangwon Seo, CEO of Coway, said, "Increased investment in R&D to the end of developing innovative products and technologies has resulted in strong sales growth for our Icon water purifier series and BEREX mattress and massage chair range across both domestic and global markets, reinforcing our status as stable performers within the market. Moving forward, we will work to further strengthen our core businesses, enhance shareholder returns and advance governance in order to increase corporate value and shareholder trust."
About Coway Co., Ltd.
Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company's most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Coway Holds 36th Annual General Meeting to Further Strengthen Shareholder Trust Through Sustainable Growth
HONG KONG, April 8, 2025 /PRNewswire/ -- Vistra, a leading provider of essential business services, is proud to announce the launch of Vistra Fund Solutions. This new strategic business proposition is laser-focused on supporting Vistra's existing fund manager clients with dedicated end-to-end services delivered by specialist teams, and on realising its full potential for growth with new customers across the globe.
Using the acquisition of Phoenix American Fund Administration and Transfer Agent business in 2024 as the catalyst, Vistra has transformed its fund offering into a high-touch global service model. Vistra Fund Solutions will deliver expert services across funds and SPV administration globally, powered by world-class people who live and breathe fund solutions, and a proprietary technology platform that leverages market-leading vendor systems. The new global business proposition has been meticulously designed to deliver seamless service and high-touch support to clients wherever they are in the world and a brand experience that the market deserves.
"The launch of Vistra Fund Solutions elevates Vistra's position in the funds market and brings into sharper relief the value we offer our global clients," says Simon Webster, CEO of Vistra. "We already had a strong and powerful funds business with great people, strong capabilities and huge potential. Now it's time to realise that potential by clarifying what makes Vistra Funds Solutions different and why we're the natural partner of choice for fund administration and support anywhere in the world."
Led by Abdel Hmitti, Vistra Fund Solutions provides a vertically integrated proposition that offers products and services to support fund structures, SPVs, and other related entities, ensuring a comprehensive approach across Private Equity, Real Estate, Infrastructure, Capital Markets and Aviation services. This single-source offering allows clients to focus on value creation for investors while being supported by dedicated professional teams.
"With this new proposition, we are laser-focused on optimising our operations and investing in the business to better serve our clients' needs and support their growth," says Abdel Hmitti, President of Vistra Fund Solutions. "We have reorganised our service delivery to embed a client-centric service culture that is underpinned by a robust operating model and technology platform. Our success is driven by our world-class talent and is already being felt as we support our clients at every step of the investment lifecycle to optimise impact and returns."
This brand launch is the start of a global campaign bringing Vistra Fund Solutions to life and highlighting what the promise of 'above and beyond' service means in practice. The campaign calls out high quality, precision, flexibility and agility, to deliver exceptional results and help fund managers choose what's right for both their ambitions and the specifics of their fund operation throughout its lifecycle.
Nicholas Macksey, Partner of EQT Private Capital Asia – an investor backing Vistra – adds, "Vistra Fund Solutions is a natural evolution of the legacy Vistra business unit that served the funds market. This launch is symbolic of Vistra's commitment to supporting those clients with the dedicated, world-class and tailored end-to-end services they need for navigating complexity and achieving success on a global scale. This is a milestone for Vistra and will accelerate the growth and value of the organisation for its people, stakeholders and clients."
For more information about Vistra Fund Solutions, please visit vistra.com/funds.
About Vistra
Vistra is a leading provider of essential business services to help companies and private capital funds grow across the entire business and investment lifecycle.
Here at Vistra, our purpose is progress. As a close ally to our clients, our role is to remove the friction that comes from the complexity of global business. We partner with companies and private capital managers along the corporate and private capital lifecycle. From HR to tax and from legal entity management to regulatory compliance, we quietly fix the operational and administrative frustrations that hamper business growth. With over 9,000 experts in more than 50 markets, we can accelerate progress, improve processes, and reduce risk, wherever your ambition takes you.
For more information about Vistra, visit vistra.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Vistra launches newly-branded Vistra Fund Solutions with a promise to go above and beyond for clients
