Celltrion's Response to News Relating to Capital Market Investigation and Review Committee
Celltrion Inc. ("Celltrion") is quite dumbfounded today by the news report of the alleged findings by the Capital Market Investigation and Review Committee (the "Committee") of stock manipulation and insider trading in the countermeasures taken against certain abnormal short-selling of Celltrion shares that began in April 4, 2011.
While Celltrion participated at a hearing held of the Committee on September 13, 2013, Celltrion was neither aware of nor notified the claims made against it by the Committee before the hearing took place. Celltrion appealed at its best against such claims and did not admitted any of the claims made. No findings of the Committee have been provided to Celltrion to date.
Celltrion had submitted a report and explained to the Committee regarding the abnormal shorting patterns of certain speculative forces. Celltrion once again requested the Committee to investigate the nexus between capital flows of the suspected short-sellers and certain stock trading accounts.
Celltrion emphatically denies that (i) it leaked any information of the issuance of bonus shares before the decision of the board of directors, or (ii) anyone benefited from the use of such insider information. Celltrion requested to the Committee to produce any evidence supporting these accusations. Celltrion has yet to receive such evidence.
Celltrion still has not been notified by the Committee of its findings in any manner and is simply stupefied that an unconfirmed news report of the findings of the Committee caused so much turmoil in the marketplace.
September 16, 2013
Celltrion Inc.