Major Shareholder Additional Pledge and Financial Risk Intensification
Major shareholder Gem & Company entered into an additional stock pledge agreement (No. 12) for operating funds: 293,194 shares pledged (up from 195,805), collateral amount KRW 6 billion.
Total pledged shares increased to 4,621,674 (84.7% of major shareholder's 5,456,126 shares). If all pledges are executed, major shareholder's stake drops from 12.32% to 1.88%.
Debtor Gem & Company's financials (FY2025): total assets KRW 12,778M, total liabilities KRW 87,990M, total equity KRW -75,212M (full capital impairment), zero revenue, net loss KRW 13,620M.
Total borrowings KRW 45.65 billion, total collateral amount KRW 71.78 billion. All 12 pledge contracts allow enforcement upon default of principal debt maturity.
KOSDAQ Filing Information
Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder