Hanjin KAL Appoints Auditor for Regular General Meeting on 23rd as Requested by KCGI
[Asia Economy Reporter Hwang Yoon-joo] Hanjin KAL announced on the 21st that the appointment of an inspector requested by Grace Holdings to the Seoul Central District Court has been decided.
Hanjin KAL stated, "Attorney Lee Sang-geon has been appointed as the inspector to investigate the legality of the regular general shareholders' meeting convening procedures and resolution methods, including the matter that the company (Hanjin KAL) will bear the inspector's fee of 5.5 million KRW (including VAT)."
Grace Holdings is an investment purpose company under KCGI. Accordingly, at the regular general shareholders' meeting to be held on the 23rd, the inspector will verify shareholders' voting rights (total voting rights, voting rights of attendees, sealed proxy forms), changes in the meeting venue (distribution of ballots, access to the meeting room), and the legality of the meeting procedures.
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Meanwhile, last month, KCGI made a shareholder proposal to Hanjin KAL focusing on amendments to the articles of incorporation for governance improvement and the appointment of independent outside director candidates. This shareholder proposal comes two years after the 2020 shareholders' meeting, when the management rights dispute reached its peak.
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