MBK Partners-Young Poong Submit Shareholder Proposals for Korea Zinc's Annual General Meeting

Whats Happening:

MBK Partners and Young Poong, Korea Zinc's largest shareholders, have submitted proposals for the upcoming annual general meeting. The proposals include appointing a temporary chair, canceling treasury shares, distributing a cash dividend, reclassifying reserves, and electing up to 17 directors to expand the board.

Key Moves:

• Proposal to appoint a temporary chair and cancel all treasury shares

• Proposed cash dividend of KRW 7,500 per common share

• Potential board expansion to up to 17 directors

By The Numbers:

• Proposed cash dividend of KRW 7,500 per common share

• Total payout would amount to KRW 17,500 per share including interim dividend

• Over 12% of Korea Zinc's shares are treasury shares awaiting cancellation

Key Quotes:

• "There is a significant risk that treasury shares will be disposed of rather than canceled."

• "As the largest shareholder, we are committed to restoring governance integrity and protecting shareholder interests."

• "We aim to establish an independent, professional board that will enhance both corporate and shareholder value."

Bottom Line:

MBK Partners and Young Poong's shareholder proposals for Korea Zinc's AGM aim to improve corporate governance, financial transparency, and shareholder value. The proposals reflect a broader effort to ensure a fair, independent board composition and advocate for responsible capital allocation.

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