iWIN Calls 28th Extraordinary General Meeting: Seeks to Stabilize Stock Price and Enhance Corporate Value through 10-to-1 Reverse Stock Split
iWIN will hold an extraordinary general meeting on June 23, 2026, to consider three agenda items: establishment of executive compensation rules, partial amendment of articles of incorporation, and a reverse stock split.
The reverse stock split will consolidate 10 common shares with a par value of 500 won into 1 share of 5,000 won, reducing outstanding shares from 41,875,293 to approximately 4,187,529 without changing total capital. Fractional shares will be paid in cash.
The articles amendment includes introduction of electronic shareholder meetings, mandatory independent director appointments, and strengthened fiduciary duties, aligning with revised Commercial Act to enhance shareholder rights and governance.
iWIN holds 94% of the domestic seat heater market, supplying Hyundai, Kia, and others, and is developing new products like ventilated seats and heated steering wheels for future growth.
[AI Summary]This EGM focuses on stabilizing stock price via reverse split and improving governance through charter amendments. No capital change occurs, so existing shareholders' proportional ownership remains unchanged, but reduced share count may support price. Investors should monitor potential liquidity and supply-demand imbalances in the short term.