ThumbAge Proposes 90% Capital Reduction and Reserve Transfer to Improve Financial Structure

EGM called for May 26, 2026: 90% capital reduction (10:1 reverse stock split) and transfer of KRW 12.53bn from capital reserve to retained earnings to cover deficits
Reduction details: 125,316,229 common shares cancelled (90%), record date June 10, capital from KRW 13.92bn to 1.39bn, outstanding shares 13,924,025
Reserve transfer: KRW 12.53bn (capital reduction surplus), remaining capital reserve KRW 80.18bn, utilizing excess over 1.5x capital
Related-party transactions: Encoreline (fees 5.12%) and Champions Studio (outsourcing 20.63%), totaling 25.75% of revenue