Jooyeon Tech Files for Injunction to Suspend Effectiveness of Delisting Decision

Request to Prohibit Liquidation Trading Procedures
and Suspend Effectiveness of Administrative Issue Designation

Jooyeon Tech has filed for a court injunction to suspend the effectiveness of its delisting decision, protesting the move. The company is seeking to halt the liquidation trading process following the delisting decision and to suspend the effectiveness of the delisting until a final court ruling is reached.

Juyeon Tech company logo image. Juyeon Tech

Jooyeon Tech announced in a disclosure on the 29th that it had submitted an application to the Seoul Southern District Court to amend the purpose and grounds for its request, seeking to suspend the effectiveness of the delisting decision and to prohibit the liquidation trading process.

Previously, on the 7th, Jooyeon Tech had filed for an injunction to suspend the effectiveness of the Korea Exchange's designation of the company as an administrative issue. After the Exchange decided on the 28th to delist Jooyeon Tech's shares, the company modified the contents of its previous injunction request.

Jooyeon Tech asked the court to suspend, until a final ruling is confirmed, the effectiveness of the administrative issue designation imposed on July 21 due to the company's market capitalization falling below requirements. The company also requested that the delisting decision issued on the 28th be suspended for the same period and that liquidation trading procedures for Jooyeon Tech shares be halted during this time.

The Korea Exchange decided to delist Jooyeon Tech on the 28th. On the same day, Jooyeon Tech disclosed that the grounds for its designation as an administrative issue had also been changed.

This content was produced with the assistance of AI translation services.