SNC Engine Group, Management Rights Dispute Lawsuit

[Asia Economy Reporter Park Jihwan] S&C Engine Group announced on the 23rd that a lawsuit regarding a provisional injunction against the issuance of new shares by the company has been filed by Permanent Mutual Limited.

Accordingly, the execution or completion of the scheduled issuance of 35,373,563 common shares and 26,506,233 shares to Chan Kwok Wai, announced on the 16th, is prohibited.