Seoryong Electronics Maintains 53.06% Stake in Finger Inc. – Pledge Termination and OTC Contract Changes Reduce Major Contract Size
Seoryong Electronics and its 11 special relations maintain a 53.06% stake in Finger Inc., unchanged from the previous report, supporting management stability.
As of the report date (2026-06-01), shares under major contracts decreased to 2,151,863 (12.86%) from 2,848,783 (17.03%), a reduction of 696,920 shares, due to the establishment and subsequent termination of a pledge.
Major contracts include three OTC trading agreements (total 1,200,000 shares) with special relation Park Min-soo as seller and buyers (Unicorn Investment Union No.1, Montana 40, Montana 41), and a shareholders' agreement (951,863 shares) between Seoryong Electronics and Park Min-soo. In case of buyer default, Seoryong may step in to complete the purchase.
Under the shareholders' agreement, Seoryong has the right to nominate 2 directors and 1 auditor of Finger, while Park nominates 1 director. Park has a put option after 2 years to sell his shares to Seoryong, and Seoryong has a right of first refusal on any sale by Park, reducing the likelihood of a management dispute.
Overall, this disclosure is a routine update due to the pledge termination, with no direct material impact on shareholder value. However, potential additional share acquisition by Seoryong exists if OTC contract buyers fail to pay.
[AI Summary]Seoryong Electronics retains a stable 53.06% controlling stake in Finger, but the pledge termination and OTC contract terms introduce potential future share changes, warranting investor monitoring of contract fulfillment.