Chapter 340 - Matchmaking (1) – Part 1
Chapter 340: Matchmaking (1) – Part 1
The next morning, Gun-Ho asked for President Song privately.
“I want to discuss further on the requirement of the company’s shares dispersion in order to go public.
“We currently have less than 500 employees. So, with our company’s current state, the required percentage on the stock dispersion is 30% which will result in a reduction of the major shareholder’s cut.”
“Hmm.”
“Also, if we try too hard to fulfill the 30% of the distribution requirement to our current employees of 260, forfeited shares could occur.”
“That makes sense. Some workers might not have enough money to acquire his or her rightful shares, and they could fail to meet the purchase requirement. Their shares will be forfeited then.”
“That’s right. The ideal scenario is that we grow this company to accommodate more than 500 employees before we register with KOSDAQ. That way, we are required to distribute only 10%.”
Pursuant to the KOSDAQ registration prerequisite, an applicant company must distribute 10% of the company shares if the company had more than 500 employees. Otherwise, 30% of the distribution was required.
“It wouldn’t be a very preferable situation for the employees either.”
“That’s right.”
“We narrowed our options down to two then. We either grow GH Mobile to hire 250 more workers, or we acquire or merge with another company that has 250 workers.”
“It seems like it, sir. The stock brokerage company that will help us register with KOSDAQ can also help us during our stock distribution stage. However, the most desirable way to handle the requirement is to distribute the required portion of our stock to our own employees.”
“I see. President Song, so your job will be to grow this company large enough to have more than 500 employees until we are ready to go public. Or, you can find a good company we can merge with.”
“Okay.”
Gun-Ho asked for the internal auditor.
“I have one more favor to ask of you.”
“Please feel free to speak.”
“I want to take them to dinner like a farewell dinner.”
“Of course, we can do that.”
“I’d like to take them to a traditional Korean restaurant where they can experience traditional Korean culture and food, rather than a modernized expensive restaurant or a Korean bar.”
“I will have someone to find one like that in this area—Asan City, Cheonan.”
“I actually talked with President Richard Amiel from Dyeon Japan before I came to your office. He said there is a very special place around here, where he was so impressed the last time he went there. He said you know the place, President Goo.”
“Do I?”
“He said that we can listen to a person playing a traditional musical instrument called Gayageum while we eat. It’s in Seoul.”
“Oh, I think he is talking about the bar/restaurant in Hannam Town.”
“That sounds right. That’s it.”
“Well, that restaurant is pretty expensive. I can introduce you to that place though if we pay for the dinner there with this joint venture’s funds.”
“Sure. We can pay for the dinner as the joint venture’s business expense.”
“Okay, then.”
“Their flight is scheduled for next Monday. Can we go there this coming Saturday?”
“Sounds good.”
“Why don’t you make a reservation for us? I hope you could come with us, sir.”
Gun-Ho asked for the accounting team’s manager. She used to work at GH Mobile as an assistant manager, and she had been reallocated to Dyeon Korea with a position promotion.
“You have our company’s business credit card, don’t you?”
“Yes, I do, sir.”
“Give it to Mr. Adam Castler on Friday evening. He will need it to treat our guests.”
“Understood, sir.”
Gun-Ho then made a phone call to Ms. Jang in Hannam Town.
“Oh, my. President Goo, it has been a while since the last time I heard your voice.”
“I’ve been in another city to establish a joint venture company. I couldn’t often go to Seoul.”
“I’ve been hoping for you to come to my bar since our bar’s interior has been redecorated. I’ve read about GH Gallery’s art exhibition in a newspaper. I was wondering if GH is the GH I knew, and I was right; the art gallery is located in your building in Sinsa Town.”
“Oh, you learned about our art exhibition in a newspaper.”
“I thought you were just in the manufacturing industry. I didn’t know you were interested in art as well. You are a very interesting man, President Goo. Haha.”
“Would you make a reservation for six people for this Saturday? Four of them are Americans. I want to show them the beauty of Korea.”
“Understood. Haha.”