Korea Zinc "Yeongpoong, MBK Disposable Rehash...Ignoring the Court Judgment"

Korea Zinc protested when Youngpoong and MBK Partners filed an additional injunction with the court, saying that Korea Zinc's share buyback was a breach of trust.

Korea Zinc criticized Youngpoong and MBK's filing of another provisional injunction today (3rd) as an act of ignoring the court and intimidating shareholders and investors from responding to Korea Zinc's tender offer of treasury stocks.

In order to lower Korea Zinc's stock price, Youngpoong said it is deliberately rehashing its application for provisional disposition, adding that it will firmly fight such market disruptions and hold them legally responsible until the end.

When the court rejected Youngpoong's earlier request for an injunction against the acquisition of treasury stocks against Korea Zinc, Korea Zinc decided to defend itself with a share buyback.

In response, Youngpoong and MBK filed an additional provisional lawsuit with the court asking the court to stop the tender offer process for Korea Zinc's treasury stock acquisition.