Major Shareholder Dongho Choi Terminates Pledge on 1.25M Shares (16.94%), Reducing Forced Liquidation Risk and Enhancing Share Price Stability
Major shareholder Dongho Choi terminated the share pledge agreement with Gyeongnam Bank on 1,250,000 shares (16.94% stake) of MHETHANOL.
The previous pledge was linked to Choi's personal loans (total 3.9B KRW, interest rate 4.26%-4.53%), posing a risk of forced sale in case of a stock price decline. The termination eliminates this risk.
Total shareholding (3,238,653 shares, 43.89%) and holdings of specially related persons (Choi Hankyeom 8,411 shares, Kwon Kyeongrok 20,051 shares) remain unchanged, with no impact on management control.
The reporter, as chairman and largest shareholder, stated that he has no specific plans regarding management rights but will decide in line with the company's objectives if significant matters arise.
[AI Summary]The termination of the major shareholder's share pledge removes potential forced selling pressure, strengthening the stock's downside floor. While there is no direct change in ownership or control, the move reduces overhang risks and supports a stable share price trajectory rather than a sharp rally.