Zinitix, a system semiconductor design company, noted on the 23rd that the claims regarding the current management allegedly leaking new product technology and company assets are false.
Earlier, Halo Microelectronics International Corporation, the largest shareholder of Zinitix, claimed there were circumstances where the current management leaked core technology and misused assets, gathering for an extraordinary general meeting and proposing a motion to dismiss the current management. The extraordinary general meeting is scheduled for July 9.
Regarding the claim that the current management leaked the product specification, circuit design, and core technology of the product ‘HM5600’ being developed by Halo to Elevation Micro, the company Zinitix refuted that as completely unfounded.
Zinitix stated about the product related to HM5600, "It is a project that was halted at the planning stage and was never designed, produced, or sold," adding, "This claim is clearly false."
Zinitix also addressed the allegations regarding the unauthorized removal of specific equipment, saying, "It was a misunderstanding of the equipment within the shared office, and the claim that the sender removed Zinitix's assets is entirely untrue." The equipment in question was located in Halo's office, and it is noted that Elevation Micro and Halo were sharing the office at the time.
Zinitix holds the position that Halo has distributed false information that distorts shareholders' judgments ahead of the extraordinary general meeting. Zinitix sent a formal letter through its legal representative, Law Firm Shigung, demanding that Halo, the largest shareholder, and the Korean subsidiary Halo Electronics cease related activities, stating they are spreading false information during the process of soliciting proxy voting rights.
Zinitix stated, "We can no longer tolerate the dissemination of false information about our company ahead of the general meeting," adding, "We plan to respond firmly to acts that obstruct shareholders' rational decision-making."