To our shareholders,
Pursuant to Article 25 of the Articles of Incorporation of Webzen Inc.(“Webzen”). Webzen will hold the 8th Annual General Meeting of Shareholders (the “AGM”) as described below.
At the AGM, three items including the business report for the 8th fiscal year will be reported and nine items including the approval of financial statements will be resolved.
Since Neowave and Liveplex have attempted hostile takeover of Webzen, they have raised several agendas items for AGM such as election of Directors and Audit Committee members, and amendment of Article of Incorporation. Thus, Webzen has accepted to raise these agendas items at the AGM.
Webzen is about to turn profits. However, the enterprises, which do not have any experience in the game industry, attempt to take over the Webzen. This hostile takeover attempt is wasting the management resources and it will decrease the company value. Webzen will do its best to establish the transparency of corporate governance and to recruit professional employees.
Shareholders holding Webzen’s common shares as of December 31, 2007 will be entitled to vote at the AGM.
I look forward to our shareholders’ participation.
Nam Ju, Kim
President and Chief Executive Officer
Attached please find document (Webzen Inc.8th Annual General Meeting of Shareholders notice)
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