The Century-Wooyang Fishery Merger: Existing Shareholders' Stake Drops from 46.05% to 8.82%

The Century absorbs Wooyang Fishery at a merger ratio of 1:1,306.4, issuing 25,197,931 new shares to Wooyang Fishery shareholders
Post-merger, largest shareholder and related parties' stake rises from 53.95% to 91.18%, while existing minority shareholders' stake plunges from 46.05% to 8.82%
Pro forma combined assets reach 203.5 billion won, sales 57.9 billion won, net income 27.1 billion won, but severe dilution for existing shareholders
The Century (listed on KOSPI) acquires Wooyang Fishery (unlisted holding company) via a simplified merger for the disappearing company
Appraisal right exercise price set at 5,649 won; shareholders must submit written opposition before the shareholder meeting
New shares will be deposited with Korea Securities Depository for a mandatory one-year holding period after listing