MYH, Largest Shareholder, Extends Stock Collateral Pledge with Risk of Stake Dilution
MYH, the largest shareholder, pledges 5,871,599 of its 11,578,506 shares (17.83%). Full exercise of collateral would reduce stake to 8.79%, potentially losing controlling status.
Total loans amount to 31.36 billion won, with collateral value of 68.91 billion won. Most of the 10 contracts are for operating funds and share acquisition.
Collateral enforcement conditions include failure to maintain collateral ratio. Contract date corrected from 2026-03-20 to 2026-05-11 (maturity extension).
Debtor MYH's financials (2016): assets 107.2B won, liabilities 47.0B, equity 60.2B, net loss 1.27B. Ultimate owner Seung Man-ho holds 49.14% of MYH.
The listed company provides collateral (time deposits of 5.25B won) and guarantees (5.765B won) to MYH for three consecutive years.
KOSDAQ Filing Information
Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder