ISS, the world's largest proxy advisory firm, recommended voting in favor of Korea Zinc's proposal to expand the board by appointing five directors and separately electing and expanding the audit committee by two members, a key issue at the regular shareholders meeting set for the 24th.
According to Korea Zinc on the 9th, ISS released its report analyzing the agenda for Korea Zinc's regular shareholders meeting that day.
ISS recommended supporting most of the items backed by the current board, including the appointment of five directors and the expansion to two separately elected audit committee members.
ISS also recommended, in line with the current Korea Zinc board's position, opposing the stock split that MBK and Young Poong sought to implement by filing for an injunction on effectiveness and resubmitting a shareholder proposal.