Business · Companies · 7 hrs ago
Polypeptide shareholders approve new board and rule changes
At an extraordinary meeting on Monday evening, Polypeptide shareholders approved all board proposals.
They elected John Chongbo Rim, Seungho Ryu, Cheol Woo Ryu, Mihyun Yang and Joonkyung Seong to the board, with Rim as its chair.
Shareholders also approved removing rules that restrict share transfers and voting rights.
The changes take effect when the offer is completed, tying them to Samsung Peptide’s public takeover offer.
Samsung Biologics now owns 87.92% of the pharmaceutical supplier after launching the offer in August.
The takeover completion has been pushed back to the end of 2026 or possibly the first quarter of 2027, because of the current understanding of regulatory approval procedures.
Polypeptide shareholders approved all proposals made by the board at an extraordinary general meeting on Monday evening.
They elected five proposed members to the board, with John Chongbo Rim becoming its president.
Shareholders also approved removing transfer and voting-right restrictions from the company’s articles of association.
The decisions and elections are linked to Samsung Peptide’s public takeover offer and will take effect when it is completed.
Samsung Biologics holds 87.92% of Polypeptide after launching the offer in August, while completion has been delayed to the end of 2026 or possibly the first quarter of 2027.
- Who
- Polypeptide shareholders approved the proposals. They elected John Chongbo Rim, Seungho Ryu, Cheol Woo Ryu, Mihyun Yang and Joonkyung Seong to the board.
- What
- They approved a new board and the removal of transfer and voting-right restrictions from the company’s articles of association.
- When
- Monday evening; the article was published on October 26, 2026.
- Where
- Not stated.
- Why
- The decisions and elections are linked to Samsung Peptide’s public takeover offer and will take effect when it is completed.
This story does not have two clearly opposing sides.
Samsung launched its public takeover offer for Polypeptide.
Shareholders approved all board proposals at an extraordinary general meeting.
Samsung postponed completion of the takeover to the end of 2026 or possibly the first quarter of 2027.
- New board president
- John Chongbo Rim
- Other elected board members
- Seungho Ryu, Cheol Woo Ryu, Mihyun Yang and Joonkyung Seong
- Stake held by Samsung Biologics
- 87.92%
- Takeover completion target
- End of 2026 or first quarter of 2027
What people are saying
the current understanding of the regulatory approval procedures