MBK and Youngpoong Acquire Additional 1.13% Stake in Korea Zinc

MBK and Youngpoong Secure 46.7% of Voting Shares Excluding Treasury Stock... Approaching Majority

MBK Partners' special purpose company (SPC), ‘Korea Corporate Investment Holdings Co., Ltd.’, announced on the 19th that it has additionally acquired a 1.13% stake in Korea Zinc.

As a result, the combined stake of MBK Partners, the largest shareholder of Korea Zinc, and Young Poong in Korea Zinc has reached 40.97% of the total issued shares, securing 46.7% of the total voting shares excluding treasury shares, bringing them close to a majority.

According to the Financial Supervisory Service's electronic disclosure system, Korea Corporate Investment Holdings Co., Ltd. acquired an additional 1.13% stake, equivalent to 234,451 shares, in Korea Zinc through on-market purchases using the ‘Careful Discretion (CD)’ method from November 12 to December 18.

With the additional 1.13% stake, Korea Corporate Investment Holdings Co., Ltd. now holds a total of 7.82% of Korea Zinc’s total issued shares (8.9% of total voting shares), combining the 5.32% secured through the Korea Zinc tender offer completed on October 14 and the 1.36% on-market purchase disclosed last month on the 11th.

Accordingly, when adding Korea Corporate Investment Holdings Co., Ltd.’s 7.82% stake to Young Poong and its affiliates’ existing 33.13% stake in Korea Zinc and Young Poong’s 0.02% stake acquired through the Korea Zinc tender offer, the combined stake of MBK Partners and Young Poong, the largest shareholders of Korea Zinc, has expanded to 40.97% of the total issued shares and 46.7% of the total voting shares.

An MBK Partners representative stated, “As the largest and primary shareholder, we believe that the foundation has been laid to restore shareholder rights, including management rights that needed to be exercised, and to correct the governance structure.”

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