Korea Zinc Announces AGM Results, with the Current Management Retaining Control of the Board with Overwhelming Shareholder Support
- Editor
- Mar 28
- 1 min read
Whats Happening:
Korea Zinc held its 51st Annual General Meeting (AGM) in Seoul, where shareholders overwhelmingly supported the current management, allowing them to retain control of the board. The meeting saw the approval of several key amendments to the company's articles of incorporation, including capping the number of board directors at 19 and appointing an outside director as board chair. These changes aim to improve board stability and enhance governance independence.
Key Moves:
Current management retains board control with strong shareholder support
Number of board directors capped at 19 to improve stability
Outside director to be appointed as board chair, enhancing governance independence
By The Numbers:
Cash dividend of KRW 7,500 per common share approved
KRW 1.6689 trillion transferred from discretionary reserves to retained earnings
Over 70% of voting shareholders supported capping board size at 19 members
Key Quotes:
"Many shareholders and citizens have strongly agreed that we must protect Korea Zinc, a key national industry, from takeover threats," stated a Korea Zinc representative.
"We will continue to support South Korea's resource security and play a central role in the global strategic minerals supply chain, while doing our best to meet the expectations of shareholders and citizens."
Bottom Line:
Korea Zinc's AGM results demonstrate strong shareholder support for the current management and a commitment to enhancing corporate governance. The approved changes, including board size limitations and the appointment of an outside director as chair, align with global standards and are expected to improve decision-making efficiency and oversight. These developments position Korea Zinc to continue its role in South Korea's resource security and the global strategic minerals supply chain.
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