SL Bionics "Will Resolve Largest Shareholder's Pledged Shares Through Legal Action"

[Asia Economy Reporter Jang Hyowon] SL Bionics announced on the 18th that it plans to resolve the provisional seizure of shares of its largest shareholder SL Holdings Company through an objection (non-existence of collection claim).

The provisional seizure creditor, ASP Company Loan, had filed several lawsuits against the company last year, but all were dismissed or lost due to distortion and misunderstanding of the facts. It was also explained that the largest shareholder SL Holdings Company is not the main debtor but a third-party debtor.

An SL Bionics official stated, “As disclosed in the public announcement, since the claimed amount has been deposited and it is possible to apply for suspension or cancellation of execution or resolve the issue through legal measures, we will do our best to clarify the company’s position so that employees and shareholders who trust and support the company do not suffer any damage.”

Meanwhile, SL Bionics has announced that it completed the acquisition and merger of Woosung Industry, an eco-friendly fuel oil production and sales company, and simultaneously established an energy business division, which is acting as a green light for securing financial soundness.

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