1. The Defendant’s issuance of new shares of 11,504 common shares of 5,00 won per par on June 18, 2014 is null and void.

2...

1. Basic facts

A. Defendant Company is a corporation established for the purpose of passenger transport business, etc., and the Plaintiff is a shareholder holding 25,593 shares out of 104,720 shares registered as of December 8, 1992.

B. On March 14, 2014, when a dispute over the management rights between management, including the Plaintiff and the representative director or inside director of the Defendant Company, the management, including C, D, E, and F, had been pending, the Plaintiff decided to hold a temporary general meeting of shareholders on June 17, 2014 (hereinafter “the temporary general meeting of shareholders”) with the permission to convene a temporary general meeting of shareholders for the additional appointment of five directors and two auditors with the Cheongju District Court 2014 non-conforming District Court Decision 2014 non-conforming1, and there was a notice of convening the temporary general meeting of shareholders from May 2014.

C. On May 22, 2014, Defendant Company decided to issue new shares 29,006 shares at par value of 5,000 by holding a board of directors and making investments in kind in the creditors of Defendant Company (hereinafter “issuance of new shares by May 22, 2014”), and registered the details of the said issuance of new shares on May 28, 2014.

Accordingly, on June 10, 2014, the Plaintiff filed a lawsuit seeking confirmation of invalidity of the issuance of new shares as of May 22, 2014 with Cheongju District Court 2014Gahap1994, and filed an application for provisional disposition prohibiting the exercise of voting rights by a new shareholder by issuing new shares as of May 22, 2014 with Cheongju District Court 2014Kahap298, and around that time, publicly announced that the holding of the provisional shareholders’ meeting of this case was extended on July 1, 2014.

E. The Defendant Company: (a) held a board of directors on June 18, 2014 and decided to issue new shares 11,504 shares that constitute 5,000 new shares (hereinafter “new shares issued in this case”) at the same time as the issuance of new shares on May 22, 2014.

On June 27, 2014, the above details of the issuance of new shares were registered.

F. Defendant Company due to the issuance of new shares on May 22, 2014 and the issuance of new shares in this case.