Vessel Stock Split Decision Corrected Due to Conversion Requests Adjusting Outstanding Shares and Implementing 2-to-1 Reverse Split

Vessel announced on June 16, 2026 a correction to its earlier stock split decision, reflecting an increase in outstanding common shares to 19,831,702 due to conversion requests.
The 2-to-1 reverse split converting par value from 500 won to 1,000 won will reduce shares to 9,915,851 without changing total equity, thus preserving corporate value.
The purpose is share price stabilization and enhancing corporate value; fractional shares will be paid in cash based on the closing price on the first listing day, and shareholder approval is required.
[AI Summary]Vessel's correction to its stock split decision reflects temporary share changes from conversion rights, aiming for price stabilization without capital reduction in a defensive move. Rather than expecting short-term price gains, investors should note the support effect on per-share value from reduced float; the direct impact on shareholder value is limited.