Momento, a subsidiary of Nudge Healthcare, has filed for a provisional injunction with the Seoul Western District Court to prohibit the sale of shares by Park Sookeun, CEO and largest shareholder of the KOSDAQ-listed company NBT.
According to the financial investment industry on June 30, Momento announced that on June 27 it had filed for a provisional injunction with the Seoul Western District Court to prohibit the disposal of a total of 3,819,756 shares (approximately 22.5%) held by Park Sookeun, the largest shareholder of NBT.
Momento stated, "Earlier this year, Park Sookeun and Momento signed a share purchase agreement and paid the contract deposit, after which we fulfilled all obligations under the agreement. We have continuously expressed our intention to pay the remaining balance and have requested the delivery of the shares, but Park Sookeun has unilaterally delayed the transfer of shares."
Momento continued, "On June 26, a disclosure was suddenly made stating that the contract had been terminated. We cannot accept this unilateral notice of contract termination, and Park Sookeun is obligated to transfer the shares to Momento in accordance with the share purchase agreement."
On June 26, NBT announced that Park Sookeun, its largest shareholder, had terminated the management rights sale agreement signed with Momento. In March, Park Sookeun had agreed to sell his entire stake (approximately 3.81 million shares) to Momento for 13.7 billion won, at 3,600 won per share.
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