DHAUTOWARE EGM Passes All 3 Resolutions Including 5:1 Reverse Stock Split, Reducing Share Count

All three resolutions (stock merge, articles amendment, audit committee appointment) were approved at the EGM on June 1, 2026.
Resolution 1: 5:1 reverse stock split (par value from 500 KRW to 2,500 KRW). Outstanding shares reduce from 48,781,224 to 9,756,244; no change in capital.
Resolution 2: Comprehensive amendment of articles – change par value, rename 'outside director' to 'independent director', include shareholders in directors' duty of loyalty, reflecting revised Commercial Act.
Resolution 3: Appointment of Yun Kyung-yong as outside director audit committee member (visiting professor at Yonsei Univ., AI/CV/renewable energy expert, independent from largest shareholder).
Voting turnout: Resolution 1: 47.7% (approval 96.4%), Resolution 2: 48.1% (approval 97.2%), Resolution 3: 17.9% (approval 92.1%, with voting cap on largest shareholder).
[AI Summary]The reverse stock split aims to boost share price and maintain listing requirements; no capital reduction or dilution occurs, but reduced float may lower short-term liquidity while positively affecting control stability. The articles amendment and audit committee appointment are governance improvements, considered neutral.