Permission to read the BYC Board of Directors Minutes, etc. by law, Truststone Management

湲 蹂肄

[아시아경제 황준호 기자] the court TO BE The second-largest shareholder, Truston Asset Management (Truston) TO BE We accepted the application for permission to view and copy the minutes of the board of directors.

According to the financial investment industry on the 18th, the Seoul Southern District Court was held on the 16th from 2016 to May of this year. TO BE A decision was made to cite all of Truston’s application for permission to view and copy the minutes of the board of directors related to the transaction between the company and the family of the company’s major shareholder or affiliated company.

Truston plans to visit the BYC headquarters in the near future to review the minutes of the board of directors and closely examine whether the transaction has gone through legal procedures under the commercial law, including resolutions of the board of directors. As a result, if various allegations related to insider transactions are confirmed to be true, Truston will proceed with legal action to request inspection of accounting books, litigation for shareholders’ representatives, and clarification of management’s responsibility.

Truststone said, “We have been investing in BYC stock since October 2020 and have had informal conversations with the company’s management for more than a year to improve governance, but have not achieved satisfactory results. After announcing the change of purpose to management participation, we have continued to engage in shareholder activities such as sending shareholder letters.” Truston announced in April that TO BE exercised the right to read the minutes of the board of directors. However TO BE refused without any particular reason, and submitted an application to the court in May for permission to read and copy the minutes of the board of directors.

“Truston said,” TO BE to investigate the allegation that the company’s corporate value is being damaged by internal transactions with specially related companies in which the major shareholder’s family and others hold stocks. TO BE Reading and copying the minutes of the board of directors is essential in order to verify whether the internal transactions of the company have gone through legal procedures under the Commercial Act.”

Reporter Hwang Jun-ho [email protected]


Source: 아시아경제신문 실시간 속보 by www.asiae.co.kr.

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