Joo Ji Hoon generates approximately 5 billion won in revenue due to management office merger

Actor Joo Ji Hoon is expected to make a profit of approximately 5 billion won (approximately 550 million yen) from the merger of the entertainment planning company in which he owns an equity interest.
On the 22nd of last month, content production company BLITZWAY signed an absorption-type merger agreement with H&Entertainment, the entertainment agency to which Joo Ji Hoon belongs.
, disclosed this on the 7th. H&Entertainment includes Joo Ji Hoon, Jung Ryeo Won, Go Doo Shim, In Kyo Jin, Chun Woo Hee, Ryu Hyeon Kyeong, Seo
・It is an entertainment agency specializing in actors that includes Lee Hyun, KRYSTAL, Jung In Sun, etc. Joo Ji Hoon is the largest shareholder with a 35% stake. If we include special relationship interests in this,
, Joo Ji Hoon's stake reaches 38.3%. BLITZWAY, which is proceeding with an absorption-type merger of H&Entertainment, evaluates its corporate value at 14.4 billion won (approximately 1.6 billion yen), and the merger ratio is
I decided 1-6.4807788. The format is to newly issue and distribute 6.4807788 BLITZWAY shares per H&Entertainment share.
If the merger takes place, Joo Ji Hoon will own 5.81% of BLITZWAY, which will be counted as the merger price.
This amounts to approximately 5.8 billion won (approximately 640 million yen). Joo Ji Hoon invested approximately 400 million won (approximately 45 million yen) when he founded H&Entertainment in June 2020.
It is estimated that Joo Ji Hoon invested 400 million won, increasing his assets to 5.8 billion won for the first time in about three years.
BLITZWAY has decided on the 12th as the record date for determining shareholders for the general meeting of shareholders for this merger.
Shareholders who oppose the merger can exercise their right to request a stock purchase from January 10th to January 30th next year. The planned stock acquisition price is 2,022 won (approximately 224 yen).