Infinite Healthcare, a global healthcare IT specialist and a subsidiary of Solborn, announced on December 19 that all agenda items proposed at its extraordinary general meeting of shareholders were rejected.
According to the related disclosure, all items on the agenda at the extraordinary general meeting were proposed by minority shareholders. The proposals included adding a provision to the articles of incorporation requiring shareholder approval for transactions with major shareholders, and the dismissal of current directors. A company representative stated, "The proposal to amend the articles of incorporation received an approval rate of about 6.8%, and the proposal to dismiss directors received about 3.2%, resulting in an overwhelming rejection by shareholders."
During the extraordinary general meeting, a resolution supporting the shareholder letter sent by the company (which included the agreement to terminate the 2025 management consulting service contract with the largest shareholder Solborn, refund previously paid consulting fees, and strengthen shareholder-friendly policies through continued dividends, among other measures) was read aloud on site at the suggestion of some attending shareholders, and it was reported that shareholders signed the resolution.
A company representative added, "The resolution included active support for the shareholder letter, support for current management's efforts to resume transactions, and a call for the resumption of transactions."
Meanwhile, following the disclosure of the results of the extraordinary general meeting, Infinite Healthcare announced that it had submitted an improvement plan to the Korea Exchange. As a result, within 20 days from the date of submission, the company's delisting and the granting of an improvement period will be determined through deliberation and resolution by the Corporate Review Committee.
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