Supreme Court Rules Korea Zinc’s Voting Rights Restriction Move Unlawful
Korea Zinc received a Supreme Court ruling that its attempt to restrict voting rights of its largest shareholder Young Poong at a shareholders meeting was unlawful. The court upheld a lower decision that Korea Zinc’s Australian affiliate Sun Metals Corporation (SMC) cannot be treated as a subsidiary under the Commercial Act, invalidating the planned restriction tied to Korea Zinc’s stake acquisition.
Coverage (8)
- Korea Zinc's current management wins backing from 8 proxy advisers ahead of shareholder vote (mbiz.heraldcorp.com)
- Korea Zinc threatens criminal complaint against Youngpoong, MBK over 'false' shareholder materials (mbiz.heraldcorp.com)
- Supreme Court Ruling Shakes Up Korea Zinc Battle (evrimagaci.org)
- Korea Zinc Refutes Young Poong's Claim of Illegal Voting Rights Restriction: "Supreme Court Decision Distorted and Exaggerated" (asiae.co.kr)
- Korea Zinc rebuffs Youngpoong, MBK over Supreme Court ruling, says management unaffected (mbiz.heraldcorp.com)
- Supreme Court Rules Korea Zinc’s Young Poong Voting Ban Unlawful (businesskorea.co.kr)
- Supreme Court Rules Korea Zinc's Curbing of Young Poong Voting Rights Illegal (en.sedaily.com)
- Supreme Court Rules Korea Zinc's Restriction of Young Poong's Voting Rights via Cross (asiae.co.kr)