TONGYANG Calls Extraordinary General Meeting for 2:1 Reverse Stock Split and Articles Amendment - No Change in Shareholder Value

TONGYANG will hold an extraordinary general meeting on June 22, 2026 to approve a 2:1 reverse stock split (par value from 500 won to 1,000 won) and related amendment to the articles of incorporation.
The reverse split will reduce the number of outstanding shares from approximately 239 million to 119 million, but total capital and market capitalization remain unchanged.
This is a purely administrative reduction in share count without any capital reduction or price-boosting intent; shareholders' number of shares will halve and the stock price will double proportionally.
[AI Summary]This reverse stock split by TONGYANG is a cosmetic measure with no real impact on enterprise value or shareholder wealth, and is considered a neutral event from an investment perspective.