Lifting of Seizure on Largest Shareholder's 76.2 Million Shares (40.4% Stake) - Risk of Forced Sale Removed, Shareholder Stability Enhanced
The court's seizure on 76,226,883 common shares (approx. 40.4% of total outstanding) held by the largest shareholder, Ttul-anchae Construction, has been withdrawn and lifted as of April 24, 2026.
The seizure was originally filed by creditor BSJ Holdings based on a redemption claim for the 1st series convertible bonds issued in September 2024 (claim amount approx. 20.96 billion KRW), but was lifted after the creditor withdrew the application.
The lifting eliminates the risk of forced sale of the largest shareholder's stake, significantly reducing management instability and downside price risk, which is viewed as a positive signal for long-term investors.
[AI Summary]The removal of the seizure on the largest shareholder's shares eliminates the overhang risk from a potential forced sale of a 40.4% stake, thereby stabilizing the stock price and improving investor sentiment, ultimately contributing to shareholder value enhancement.
KOSDAQ Filing Information
Filing: [Correction of Description] Investment Judgment Related Major Management Matters (Application For Release Of Share Provisional Seizure)