MOBILE APPLIANCE, INC. Shim Dong-min appointed manager to handle trading halt, delisting review and cash shortage

What happened

Mobile Appliance appointed Shim Dong-min as its managing agent (a person who runs company affairs on its behalf).

In the company's terms

The stated purpose is to handle the trading halt on its shares, the delisting review and the company's cash shortage. He was born in 1982 and is a former CEO of the company. He also worked in new business planning at SK Corp. and as a vice president at Daekwang Co., Ltd. He will work at the head office.

What changes for shareholders

His duties cover 4 areas. First, he oversees the response to the Korea Exchange delisting review and trading halt. Second, he controls and approves urgent fundraising and spending. Third, he holds hiring authority, signs and maintains key sales contracts, and handles day-to-day operations. Fourth, he supports shareholder meeting work and other company affairs. Matters that law or the articles of incorporation reserve for a shareholder meeting or board vote must still follow those procedures.

His term starts on Nov 12, 2026. It runs until the company's operations are normalized and new directors are appointed at the next extraordinary shareholder meeting.