Correction of Stock Pledge Agreement Involving Change in Largest Shareholder (Extension and Repayment of Stock-Backed Loans)
Largest shareholder Jeon Dong-gyu corrected 13 pledge contracts (cumulative 10,211,390 shares): some creditors removed, maturity extended, total debt 187.1B won, total pledge 255.4B won
If all pledges executed, his stake could drop from 19.61% to 3.55%
Pledged 6,391,345 shares to new investors (SJ Value Up, Sistema First) to secure put option (pledge of right)
All contracts include margin call conditions (additional collateral or liquidation upon maintenance ratio breach)
Reason for correction: extension and repayment of stock-backed loans
KOSDAQ Filing Information
Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder