Question

Company X's total outstanding shares are 1000 shares, with 400 shareholders A, 300 B, 150 C, 100 D and 50 E, respectively.
C held a shareholders' meeting to appoint directors, and the agenda was presented as candidates for directors by F,G,H and B, professional managers recommended by A.

1. Is it possible for B to exercise its voting rights on the agenda of the shareholders'meeting for the appointment of this director?

At the shareholders' meeting, B,F,G and H were all appointed directors, while B and F were registered as co-chairmen of the company.

2. Explain how this sales contract works if B signed a contract with a customer and sold the product alone because F went on a family trip and could not be reached.

Since then, B has resigned as CEO and F has become the sole CEO. X Corp. recently decided to sell its holdings for 500 million won due to financial pressure, which CEO F wants to buy.

3. If A,B,C and D agree in writing to a land purchase transaction of F in connection with this transaction, will F acquire land from X in effect?

Prior to the transaction of this land, X held a board meeting, and the minutes indicated that B and G agreed, but no indication of H's intention was made.

4. If the market price of the land is found to be well over 1 billion won, explain later whether the company can get the difference back and from whom.

Answer 1