Young Poong, which is collaborating with MBK Partners to acquire management rights of Korea Zinc, will present matters to be discussed at the regular shareholders' meeting scheduled for the 27th, including the shareholders' proposal from Korea Zinc regarding adoption of cumulative voting.
Young Poong announced on the 13th that it will present matters for discussion at the shareholders' meeting on the 27th, including stock splits, dividends, the appointment of internal and external directors, as well as the introduction of a proposed in-kind dividend plan and the cumulative voting system suggested by Young Poong Precision Corporation.
Young Poong plans to push for a stock split to enhance shareholder value. If approved at this shareholders' meeting, the par value per share will be divided from the existing 5,000 won to 500 won at a ratio of 10 to 1.
Young Poong also decided to pay an additional cash dividend of 50 won per share. Based on the closing price on the 11th (490,000 won), the converted amount from stock dividends per share is calculated to be 17,150 won, so with the 50 won cash dividend added, the total dividend amount per share will be 17,200 won.
Additionally, the agenda will discuss the appointment of 2 internal directors and 4 external directors at this shareholders' meeting. The candidates for internal directors include President Kwon Hong-woon (Chief Financial Officer) and Kim Gi-ho, the director of the Seokpo Refinery.
One external director will also be appointed as a commissioner of the audit committee. A final candidate will be selected through voting between the two candidates, Jeon Young-jun and Kim Kyung-ryul. The former was recommended by Must Asset Management, a general shareholder, while the latter was suggested by Young Poong Precision Corporation.