NGeneBio Decides 66.67% Capital Reduction, Merging 3 Shares into 1

NGeneBio has proposed a free capital reduction (무상감자) to offset accumulated deficits, to be approved at an EGM on June 9, 2026.
The reduction ratio is 66.67%, merging 3 existing common shares into 1, decreasing total shares from 26,809,750 to 8,936,583.
The record date is June 24, 2026, with the effective date on June 25; trading will be suspended from June 23 to July 12.
Shareholders will lose two-thirds of their shares without any compensation, resulting in extreme dilution.
Capital will decrease from approximately 26.8 billion won to 8.9 billion won; the move aims to improve financial structure but is negative for shareholder value.