MBK Partners and Youngpoong’s attempt to take control of the board of Korea Zinc was thwarted by Chairman Choi Yoon-bum’s side in a shareholder meeting vote. Despite holding a 25.42% stake in Korea Zinc, Youngpoong’s voting rights were restricted, reducing the MBK-Youngpoong alliance’s stake to 15.55%. The key agenda item, ‘Setting a Cap on the Number of Directors,’ was approved with 71.11% of the votes, aiming to set a cap of 19 directors to prevent the MBK-Youngpoong side from taking over the board.
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Auto-posted at: 2025-03-28 21:01:33