Decision to delist via cash stock exchange at KRW 120,000 per share
Stock exchange decision: DOUZONE BIZON will become a wholly-owned subsidiary of Doronicum via a cash-for-stock exchange, paying KRW 120,000 per share (excluding Doronicum's shares).
Exchange price: KRW 120,000 per share, a 0.76% premium over the base market price (KRW 119,099), equal to the tender offer price reflecting a control premium.
Shareholding: Doronicum and its affiliates hold 96.92% as of May 15, 2026; tender offer participation was 90.4% of minority shares.
Procedural fairness: A special committee (3 outside directors) and external advisors (Samil PwC, law firm Lynn) reviewed the fairness of purpose, terms, and procedures.
Schedule: Exchange date June 30, 2026; delisting expected July 15, 2026. Dissenting shareholders may exercise appraisal rights at KRW 120,000 per share.
Treasury shares: 2,354,110 treasury shares to be cancelled before the exchange.
KOSPI Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Stock Exchange and Transfer)