lotte confectionery co ltd (004990) Snapshot

Lotte Confectionery Co. Ltd. will pick three new outside directors during a shareholders meeting on March 22. Its widely believed that the seats are reserved for Park Cha-seok, a former commissioner of Daejeon Regional Tax Office; Kang Dae-hyung, a former vice commissioner of the FTC; and Park Jae-yeon, a senior advisor at the Federation of Korean Industries.

Lotte Confectionery Co. Ltd., Annual General Meeting, Mar 22, 2013., at 10:00 Korea Standard Time. Location: Head Office 7th floor auditorium. Agenda: To consider audit report, business reporting; to consider the appointment of the external audit reports; to consider the balance sheet, income statement, appropriations of retained earnings, statement of changes in equity, and approval of the cash flows; to approve the election of directors; to consider the appointment of the members of the audit committee, outside director and member of audit committee; to approve directors' remuneration limit; and to consider other references useful for making investment decisions.

Lotte Confectionery Co. Ltd. plans to takeover Bibica Corporation. Lotte as a strategic partner currently holds 38% stake in Bibica. Truong Phu Chien, General Director of Bibica, earlier denied the possibility that its largest shareholder, Lotte, would acquire Bibica Corporation.