GemVax & Kael: "Delisting Allegations Are Malicious False Claims"
GemVax & Kael announced on the 20th that the allegations of intentional delisting of Bioville by Chairman Kim Sang-jae are "malicious false claims."
On the same day, Bioville officials claimed through a newspaper advertisement that Chairman Kim deliberately caused Bioville's delisting and that GemVax & Kael is suspected of accounting fraud. They also mentioned connections with Lime Fund and others. A GemVax & Kael representative emphasized, "Raising the Lime issue, which has no relation to Bioville, is a strategy to unfairly associate Chairman Kim with the negative image of the Lime incident," and added, "There were no illegal elements in the convertible bond transactions between Chairman Kim and Lime."
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Regarding the accounting fraud allegations, they explained that "a proper external audit was conducted." Furthermore, concerning Bioville's delisting, they stated, "It happened after Chairman Kim transferred management rights." A GemVax & Kael representative claimed, "The spread of false information coincides with some shareholders of GemVax Link securing voting rights through a small shareholder coalition and attempting to seize management control at the general meeting, aiming to tarnish Chairman Kim's image."
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