Yoon Dong-han, chairman of Kolmar Group, has filed a request with the Daejeon District Court to appoint an inspector against Kolmar Holdings, which applied for permission to convene a temporary shareholders' meeting of Kolmar BNH.
The inspector appointment system is established to investigate the company's operations for any misconduct or serious reasons for violating laws or articles of incorporation by appointing an inspector to investigate the company's operations and financial condition.
According to Kolmar BNH on the 22nd, Chairman Yoon noted that Kolmar Holdings did not follow the procedures required by law and the articles of incorporation, such as board resolutions in advance, during its application process to the Daejeon District Court in May for permission to convene a temporary shareholders' meeting of Kolmar BNH.
Kolmar Holdings has requested a reorganization of the board due to Kolmar BNH's poor performance and declining stock prices, and has applied for permission to convene a temporary shareholders' meeting. The case has concluded hearings and is awaiting a court decision.
Kolmar BNH stated, "Kolmar Holdings held a board meeting afterward on June 26 and resolved to approve the (temporary shareholders' meeting) request, but it was merely a formality with unanimous consent," and claimed that "the company's internal control system was not functioning properly."