SEOUL, South Korea--(BUSINESS WIRE)--Dec 25, 2024--

After the board of Korea Zinc (KRX:010130) proposed various resolutions that give priority to shareholder values and protections for the rights of shareholders to discuss at next month's extraordinary general meeting (EGM), MBK Partners and Young Poong have intensified vicious slanders on the board's resolutions. Such a move rather proves the significance of these resolutions proposed by the board to the extent that they could disrupt the consortium's attempt to take control of the board at the upcoming session, the only purpose of the consortium throughout its takeover bid. The consortium's frustration at the resolutions is clearly shown in its contradictory stance on the adoption of cumulative voting, an iconic means of protecting minority shareholders and board diversity.