Korea Zinc on the 24th approved an agenda item at its regular shareholders meeting to set the number of directors to be elected by cumulative voting at five.
Korea Zinc said it resolved this agenda on determining the number of directors to be elected by cumulative voting at the 52nd regular shareholders meeting held that afternoon at the Koreana Hotel in Jung-gu, Seoul.
The agenda proposed by Chair Choi Yoon-beom of Korea Zinc to elect five directors won 11,702,643 votes in favor out of 18,580,189 shares present, or 62.98%.
The agenda proposed by the Young Poong–MBK Partners alliance to elect six directors won 9,688,020 votes in favor out of 18,557,174 shares present, or 52.21%.
Both items met the requirements for an ordinary resolution, but the five-director proposal received more votes and was approved.