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Jindo Shareholders Withdraw Petition to Summon General Meeting

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Shareholders of Jindo (KRX:088790), identified as Kwon and three others, have withdrawn a legal petition to convene a general shareholders' meeting, according to a Thursday filing with the Korea Exchange.

In a previous June 6 filing, the purpose of the meeting comprised of partial changes in the articles of association linked to the basis for interim dividends and the creation of a shareholder value-enhancing plan.

The agenda also included a revision of the executive retirement payment rule, acquisition of own stocks, approval of capital reserve reduction, and appointment of an auditor.

Shares of the fashion and manufacturing company fell more than 1% in recent trade.

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