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Korea Zinc Acknowledges 3% Voting Cap for Chairman’s P23 Stake

Korea Zinc logoKorea Zinc
Sig3.49Sen-0.70Env0.00Soc0.00Gov-3.87

Korea Zinc formally conceded that shares held by P23 Partners, linked to Chairman Choi Yoon-birm, are subject to the combined 3% voting cap for an audit committee agenda at an extraordinary shareholders meeting on the 9th. The Seoul Central District Court dismissed an injunction sought by Young Poong and MBK Partners, and the company said it must combine the P23 stake with Choi’s holdings and limit voting rights above the statutory threshold.

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