CI Tech "Court Dismisses Application for Temporary General Meeting Approval"

CI Tech announced on the 3rd that the Seoul Eastern District Court dismissed the application for convening an extraordinary general meeting of shareholders filed by Lee Hak-young, CEO of Hunter House.

The 21st Civil Division of the Seoul Eastern District Court stated in its ruling that considering the purpose of minority shareholder rights and the system for requesting the convening of an extraordinary general meeting of shareholders, as well as the purpose and circumstances under which the applicant exercised the right to request the convening, there is no practical benefit in convening the meeting. Furthermore, allowing the convening would clearly only cause more complicated legal disputes. Therefore, the court ruled to dismiss the application for convening the extraordinary general meeting of shareholders. This court ruling has temporarily settled the lawsuits related to management rights.

Meanwhile, Lee Hak-young, who is currently engaged in a management rights dispute with CI Tech, recently increased his shareholding. According to the large shareholder report disclosed on the 1st, Lee purchased approximately 220,000 shares on the market at 1,398 KRW per share on October 31. As a result, his total shares held increased from 5,630,522 to 5,850,762 shares. His shareholding ratio also slightly rose from 11.25% to 11.69%.

In the report, Lee stated that out of his total shares, 5,242,070 shares were provided as stock collateral to SangSangin Plus Savings Bank and Mirae Asset Daewoo for stock-backed loans.

Lee Hak-young, CEO of Hunter House, who triggered this management rights dispute, is a figure previously mentioned in listed companies such as EN3, AT Semicon, and Leaders Technology Investment, which experienced M&A or management rights disputes.

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