Samyoung ENC "Illegal Circumstances in the Proxy's Voting Rights Solicitation Process"

[Asia Economy Reporter Hyungsoo Park] Samyoung ENC is embroiled in a controversy over illegal activities during the proxy solicitation process ahead of the extraordinary general meeting of shareholders scheduled for the 27th.

The current management of Samyoung ENC raised concerns on the 17th that Hwang Hye-kyung, the former CEO and convener, along with seven others, are engaging in illegal activities in soliciting proxy voting rights from shareholders.

A Samyoung ENC official explained, "Hwang Hye-kyung's side announced on the 12th that they would disclose reference materials and start soliciting proxy voting rights from the 18th," adding, "However, it has been confirmed that solicitation activities began earlier than the disclosed start date."

According to Samyoung ENC, a shareholder named Park visited by Lee, team leader of I&Pwix, the proxy solicitation agent for Hwang Hye-kyung's side, at around 2 p.m. on the 14th, who solicited a proxy and collected a power of attorney at Park's home.

The official stated, "Since the 14th, we have confirmed testimonies and circumstances from shareholders visited by employees soliciting proxy voting rights on behalf of Hwang Hye-kyung's side," emphasizing, "Such solicitation activities violate Article 153 of the Act on Capital Markets and Financial Investment Business, which stipulates that proxy solicitation must begin two business days after submitting the proxy solicitation reference materials to the Financial Services Commission and the stock exchange."

He added, "Since the company has confirmed the illegality of Hwang Hye-kyung's proxy solicitation, it will take appropriate measures accordingly."

This content was produced with the assistance of AI translation services.