Korea Zinc: "MBK Engaged in Fraudulent Transactions and Market Disruption"

"All shareholders who sold stocks at 830,000 KRW are victims"
CEO Park Gi-deok holds emergency press conference on the 22nd

Korea Zinc claimed on the 21st that Yeongpung and MBK Partners "artificially and intentionally provoked judicial risks" by filing an injunction lawsuit to suspend the tender offer procedure for Korea Zinc's treasury shares.

In response, Korea Zinc announced that it will use all means, including filing a complaint with the Financial Supervisory Service, to hold them legally accountable. Park Ki-deok, CEO of Korea Zinc, is also scheduled to hold an emergency press conference on the 22nd.

In a statement released that day, Korea Zinc said, "It was a deliberately planned trick to increase uncertainty about Korea Zinc's tender offer for treasury shares and create anxiety among shareholders, thereby inducing them to respond to the tender offer by Yeongpung and MBK."

Korea Zinc pointed out, "With the dismissal of this injunction, it has become clear that all the claims made by MBK and Yeongpung were false, and that the legal procedures were nothing more and nothing less than being exploited by 'professionals.' If these lies had not existed, the absurd situation where only 5.34% participated in the tender offer by Yeongpung and MBK, which ended on the 14th, would not have occurred."

It added, "All shareholders who transferred their shares to MBK Partners at 830,000 KRW, which is lower than Korea Zinc's tender offer price of 890,000 KRW, are victims," and warned, "Shareholders and investors who were deceived by MBK and transferred their shares will have no choice but to proceed with legal actions for actual damage recovery beyond anger."

Furthermore, it stated, "Especially, Yeongpung and MBK continue their shameless behavior without any remorse or shame, even after being dismissed twice by the court and mentioning the main lawsuit," and emphasized, "Since the tender offer by MBK and Yeongpung, which was conducted through such fraudulent and unfair trading, fundamentally has issues with its validity, we will use all means and methods to correct this without fail."

Meanwhile, the Civil Division 50 of the Seoul Central District Court (Presiding Judge Kim Sang-hoon) dismissed Yeongpung's injunction request to prohibit Korea Zinc Chairman Choi Yoon-beom and CEOs Park Ki-deok and Jung Tae-woong from acquiring treasury shares.

This content was produced with the assistance of AI translation services.