Korea Zinc announced that it will hold MBK Partners and Young Poong fully legally responsible, both civilly and criminally, for spreading false information regarding the allowable amount for treasury stock acquisition.
On the 2nd, Korea Zinc stated, "We will pursue all civil and criminal legal responsibilities against MBK Partners and Young Poong for spreading false information that the allowable amount for our treasury stock acquisition is 58.6 billion KRW instead of 6 trillion KRW, ignoring the court's ruling. Along with all civil and criminal measures, we will also report to the Financial Supervisory Service regarding market manipulation and market disruption activities."
Previously, Young Poong and MBK claimed that the limit on Korea Zinc's treasury stock acquisition amount was not the previously known 5.8497 trillion KRW but actually only 58.6 billion KRW.
Korea Zinc said, "The false information spread by MBK and Young Poong completely denies and disregards the court's injunction ruling issued today. It is an illegal act that intentionally distorts and spreads negative perceptions about Korea Zinc's tender offer, causing market instability."
It added, "Going forward, we will thoroughly provide fact-based information so that shareholders and investors can make proper judgments, and we will communicate based on this."
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