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8. Which of the following statement is incorrect about proxy voting in Korea?

	A.	The dates of annual general shareholders' meeting (AGM) is concentrated in March.
	B.	Companies can hold virtual shareholder meetings, but they must be combined with on-site meetings.
	C.	Annual general shareholders' meeting (AGM) must be held before the publication of annual business report.
	D.	Foreigners must appoint a standing proxy and must exercise their votes directly or through its standing proxy.

14. Which anti-takeover devices are used in Korea?

I. Issuing treasury stocks to white knight.

II. Issuing new shares to a white knight.

III. Mandatory bid rule.

IV. Dual class shares

	A.	III, IV
	B.	I, II, III
	C.	I, II, III, IV
	D.	I, II

9. Which explanation is incorrect about the 10% (short-swing profit) rule in Korea?

	A.	Any profit made within six months by an insider must be paid back to the company.
	B.	This rule led NPS not to engage against Korean Air in 2019.
	C.	With the 5% rule change in 2020, NPS is exempt from 10% rule if its investment objective falls under general investment purpose.
	D.	National Pension Service (NPS) is subject to this rule regardless of its investment purpose.

10. Which of the statement is incorrect?

	A.	Hold out problem can be resolved if a bidder extracts private benefits of control after acquisition.
	B.	In a derivative action, lawyers are paid from plaintiff's proceeds.
	C.	Mandatory bid rule tends to deter efficient acquisitions if private benefits consumed by the old block holder is greater
	D.	The 5% rule tends to weaken the effectiveness of a toehold strategy.

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