Meeting of Shareholders

The Annual General Meeting of Shareholders of Gobi JSC was successfully held at 10:00 AM on April 29, 2025, at the Khaan Theatre, located in the Seoul Office of Khan Bank, 3rd khoroo, Sukhbaatar District.

Meeting Quorum

As of the record date, April 4, 2025, the total number of voting shares of Gobi JSC was 780,112,500.

• A total of 563 shareholders, representing 13,341,856 voting shares (1.71%), submitted their votes in advance.

• On the day of the meeting, 99 shareholders, representing 681,455,412 voting shares (87.35%), attended in person.

In total, 654 shareholders holding 694,791,015 voting shares, or 89.06% of total voting rights, participated in the meeting. Thus, the meeting quorum was met and the meeting was duly convened.

Agenda Items Presented

• 2024 financial and operational performance report of Gobi JSC

• Board resolution on not distributing dividends from the 2024 financial results

• Board’s conclusion on the 2024 performance and financial statements

• Proposed amendments to the Company Charter

• 2024 Board performance report and proposed 2025 remuneration budget

• Introduction of nominees for Board membership

Resolutions of the AGM

After hearing the reports and presentations related to the agenda items, as well as discussing questions and comments, the shareholders voted and adopted the following resolutions:

• The Board's conclusion on the 2024 financial and operational results of the company was approved with 99.99% of the votes.

• The proposed amendments to the Company Charter were approved with 99.99% of the votes.

• The 2025 Board remuneration budget was approved with 99.99% of the votes.

• The Board’s conclusion stating that “Gobi JSC’s executive team fully utilized its internal capabilities to achieve the 2023 targets” was approved with 99.99% of the votes.

• Using cumulative voting, the following 9 Board members were elected for a term of 3 years:

  Independent members:

  • D. Gerelmaa

  • A. Jargalmaa

  • D. Khurelbaatar

  Regular members:

  • B. Amarsaihan

  • Ts. Baatarsaihan

  • B. Orgil

  • D. Khulan

  • B. Tseenyam

We sincerely thank all shareholders who attended and actively participated in the Annual General Meeting.

The Annual General Meeting of Shareholders of Gobi JSC was successfully held on April 29, 2024, at 10:00 AM in the Khan Theatre of Kaan Bank's Seoul Office, located in the 3rd khoroo of Sukhbaatar District.

Meeting Attendance
The meeting was attended by a total of 703 shareholders holding 691,224,087 voting rights (88.61%), achieving the required quorum for the meeting to be valid. This included 629 shareholders, holding 12,462,706 voting rights (1.60%), who participated through advance voting, and 74 shareholders, holding 678,761,381 voting rights (87.01%), who participated in person on the day of the meeting.

Agenda Items Presented

1. Operational and financial performance report of Gobi JSC for 2023.
2. Board resolution on not distributing dividends from the 2023 financial results.
3. Board conclusions regarding the company’s 2023 operations and financial report.
4. Board’s 2023 activity report.
5. Proposal to revise the remuneration of board members.
6. Budget for board members' salaries for 2024.
7. Introduction of nominees for the board of directors.

Meeting Resolutions
The shareholders reviewed the reports and presentations, engaged in discussions, and cast their votes via ballot. The following resolutions were passed:

1. The Board's conclusion that "the executive management team of Gobi JSC fully utilized their resources to achieve the planned goals for 2023" was approved with 99.99% of the votes.
2. The proposal to revise the remuneration of the board members was approved with 99.99% of the votes.
3. The salary budget for board members for 2024 was approved with 99.99% of the votes.
4. Nine members were elected to the Board of Directors for a three-year term as follows:
   • Independent Board Members:
     • D. Gerelmaa
     • A. Jargalmaa
     • D. Khurelbaatar
   • Regular Board Members:
     • B. Amarsaikhan
     • Ts. Baatarsaikhan
     • Ts. Orgilbold
     • D. Khulan
     • N. Munkhbat
     • E. Purevlkham

We extend our heartfelt gratitude to all shareholders who actively participated in the Annual General Meeting.

On April 20, 2023, at 10:00 a.m., the shareholders of Gobi JSC convened for their regular meeting, which marked the successful hosting of the 2023 Annual General Meeting.

Meeting Attendance:

A total of 829 shareholders participated in the meeting, representing 284,381,205 voting rights (36.45%), while 68 shareholders accounted for 406,030,659 voting rights (52.05%). In total, there were 897 shareholders with a cumulative voting right of 690,411,864.

Agenda Items:

During the meeting, the following agenda items were presented:

1. Gobi JSC's 2022 Activity and Financial Results Report

2. Resolution of the Board of Directors regarding the non-distribution of dividends from the 2022 financial results

3. Conclusions issued by the Board of Directors on the company's 2022 operations and financial statements

4. 2021 work report of the Board of Directors

5. Proposal for updating the salary of the members of the Board of Directors

6. Board salary budget for 2023

7. Introduction of candidates for the Board of Directors

Meeting resolutions:

Following discussions, shareholders cast their votes through a ballot, leading to the following resolutions:

1. With 99.99% consensus, the Board of Directors confirmed that the management team of Gobi JSC had fully utilized their resources to achieve the goals set for 2022.

2. The proposal to re-determine the salary of the members of the Board of Directors was approved with 99.98% of the votes.

3. The Board of Directors' salary budget for 2023 was approved with 99.99% of the votes.

4. The following nine individuals were appointed to the Board of Directors for a three-year term:

   Independent members:

   - Damba GERELMAA

   - Altangerel JARGALMAA

   - Takeshi KAMBE

   - Dambiijav KHURELBAATAR

   Regular members:

   - Tsagaach BAATARSAIKHAN

   - Hideo SAWADA

   - Dashdavaa HULAN

   - Baatarsaikhan AMARSAIHAN

   - Tsogtgerel ORGILBOLD

Resolutions of the Meeting:

For detailed information regarding the resolution of the Annual General Meeting, please click here.

We extend our heartfelt gratitude to all shareholders for their active participation in the Annual General Meeting.

On April 23, 2022, at 11:00 a.m., the regular meeting of shareholders of Gobi JSC was successfully held at the "Mirage" restaurant next to the company's factory store.

Meeting Attendance:

The meeting saw the participation of 1,046 shareholders, who collectively held 284,538,863 votes through advance voting, while 95 shareholders attended in person on the day of the meeting, holding 405,499,195 votes. In total, 1,141 shareholders were present, representing a total of 690,038,058 votes. The meeting achieved a remarkable attendance rate of 88.45%.

Issues Presented at the Meeting:

The meeting covered the following agenda items:

1. Gobi JSC 2021 activity and financial results report
2. Conclusion of the Board of Directors regarding the company's 2021 activities and financial statements
3. Resolution of the Board of Directors not to distribute dividends from the financial results of 2021
4. Board of Directors' work report for 2021

Meeting Resolutions:

Shareholders had the opportunity to review the reports on the aforementioned issues, engage in discussions, and express their questions and comments. Subsequently, voting took place through ballots.

With an overwhelming vote of 99.99%, the Board of Directors confirmed that "the executive management team of Gobi JSC has fully utilized their resources to achieve the goals set for 2021."

For detailed information on the meeting resolutions, please refer to the provided link to access the shareholders' meeting resolution.

We extend our sincere appreciation to all shareholders for their active participation in the meeting and their continued support.

On April 24, 2021, at 11:00 a.m., the shareholders of Gobi JSC gathered for their Annual General Meeting.

Amidst the ongoing COVID-19 pandemic, the meeting was held online for the second consecutive year to ensure the safety and well-being of everyone involved. The event was successfully live-streamed on our official Facebook page, "Gobi Cashmere." It was heartening to witness the active participation of 136 shareholders, representing an impressive 88.42% of the voting rights.

The main focal point of the meeting was to discuss and approve the Board of Directors' conclusion, which stated that "the management team of Gobi JSC had effectively utilized their resources to achieve the planned goal for 2020." This resolution garnered a resounding vote of 99.96%.

We extend our heartfelt gratitude to all the shareholders for their enthusiastic engagement and unwavering support in making the Annual General Meeting a success despite the unique circumstances.

For the shareholder meeting resolution, please CLICK HERE.

On April 24, 2020, at 10:00 a.m., the Annual General Meeting of shareholders of Gobi JSC was successfully conducted at the Outlet store. In response to the global situation and the curfew related to COVID-19, Gobi JSC took the proactive step of holding its Annual General Meeting online for the first time, with "Gobi Cashmere" providing a live broadcast via the official Facebook page. The meeting saw the active participation of 84 shareholders, collectively representing 88.48 percent of voting rights. The Annual General Meeting was validly held, and a total of 3 issues were thoughtfully discussed and subsequently approved.

Resolutions of the Meeting:

1. The board of directors approved the conclusion that "the executive management team of Gobi JSC has fully utilized their resources to achieve the planned goals in 2019."
2. Proposed amendment to the company's charter received support, with 97.04% of votes in favor.
3. New members to the Board of Directors were elected, and the candidates received approval from the shareholders.

We extend our sincere appreciation to all shareholders for their active participation and valuable contributions during this significant Annual General Meeting, which helped shape the future direction of Gobi JSC.
 

Click Here to view the resolution of the shareholders' meeting.

Gobi JSC conducted its Annual General Meeting on April 18, 2019, at 10:00 a.m. The meeting was held at the Mirage restaurant, adjacent to the company's Factory store. A total of 285 shareholders with a cumulative voting rights of 691,528,080 attended the meeting, resulting in an attendance rate of 88.64%.

During the Annual General Meeting, the following matters were addressed:

1. Presentation of the 2018 activity and financial results report of Gobi JSC
2. Discussion and approval of the conclusions made by the Board of Directors regarding the company's 2018 operations and financial statements
3. Presentation of the 2017 dividend distribution report and the resolution of the Board of Directors on the distribution of dividends from the 2018 financial results
4. Discussion of the 2018 work report of the Board of Directors

Shareholders attentively listened to the reports related to the above issues, actively participated in discussions, and voted by ballot.

The board of directors confirmed with 99.96% consensus that "the executive management team of Gobi JSC has fully utilized their resources to achieve the planned goals in 2018."
 

Click Here to read the resolution of the shareholders' meeting.

Gobi JSC organized its Annual General Meeting on April 17, 2018, at 14:00, taking place at the "Mirage" restaurant adjacent to the company's Factory store. The meeting witnessed the active participation of 210 shareholders, holding 6,946,873 voting rights, resulting in an attendance rate of 89.05%. During the meeting, the following matters were discussed and resolved:

• The Board of Directors thoroughly examined the company's 2017 operations and financial statements. With an overwhelming majority vote of 99.88%, the conclusion was reached that the executive management team of Gobi JSC effectively utilized their resources to achieve the planned goals in 2017.
• The proposed amendments to the company's charter were deliberated upon, and they received an approval rate of 99.85% from the votes cast by the shareholders.
• The meeting featured the presentation of the 2016 dividend distribution report, as well as the resolution for the distribution of dividends based on the 2017 financial results.
• Through cumulative voting, the shareholders ratified the candidates for the board of directors. M. Bayar, D. Gerelmaa, B. Nandin-Erdene, Takeshi Kambe, and Z. Shagdarsuren were elected as independent members, while Ts. Baatarsaikhan, J. Oyunchimeg, Hideo Sawada, and D. Hulan were chosen as regular members, all serving on the board for a three-year term.
• The board members' remuneration was put to a vote and approved by vote rate of 99.84%.

Gobi JSC conducted an ordinary shareholders meeting on April 13, 2017, with an attendance rate of 85.74%. A total of 90 shareholders, holding 6,688,649 voting rights, participated in the meeting. The meeting addressed and resolved the following matters:

• The Board of Directors reviewed the company's 2016 operations and financial report. With an overwhelming majority of 99.97%, the Board approved the conclusion that the executive management team of Gobi JSC effectively utilized their resources to achieve the planned goals in 2016.
• The report on the distribution of dividends for the 2015 financial year and the resolution for the distribution of dividends in 2016 were presented.
• The shareholders approved the candidates for the board of directors through cumulative voting. M. Bayar, D. Gerelmaa, B. Nandin-Erdene, T. Odmaa, Takeshi Kambe (as independent members), and Ts. Baatarsaikhan, Hideo Sawada, D. Hulan, and J. Oyunchimeg (as regular members) were elected to serve on the board for a period of three years each.

The Annual General Meeting was held on April 8, 2016, with participation from 6,688,859 shareholders, accounting for 85.74 percent of attendance. The meeting covered several important matters, and the following issues were discussed and resolved:

• The Board of Directors reviewed and approved the company's 2015 operations and financial report with unanimous approval from all members.
• Changes to the company's charter were proposed and unanimously approved. The following amendments were made to the rules:
• The Finance and Registration Department director was added to the list of authorized officials of the company. 
• The appointment of regular and independent members of the Board of Directors was discussed and confirmed. The following individuals were appointed as regular members for a three-year term: Baatarsaihan Tsagaach, Hulan Dashdavaa, Naranbaatar Davaa, and Hideo Sawada. Additionally, Takeshi Kambe, Odmaa Tunrev, Khurelbaatar Dambiijav, Gerelmaa Damba, and Shagdarsuren Zuunai were appointed as independent members.