Gapdo Mulsan buys 50,000 shares of DAWON CABLE on market but ownership falls to 20.87% due to CB conversion and preferred share revival

Major shareholder Gapdo Mulsan acquired 50,000 common shares of DAWON CABLE through on-market purchase on June 24, 2026 at 10,381 KRW per share, increasing its total holdings to 16,917,805 shares.
Despite the purchase, its ownership ratio fell from 21.36% to 20.87%, a decline of 0.49 percentage points, due to an increase in total shares outstanding from the conversion of convertible bonds on February 23, 2026 and the inclusion of 2,621,200 preferred shares whose voting rights were revived because the company paid no dividend in fiscal year 2025.
DAWON CABLE did not pay dividends for fiscal year 2025, which revived voting rights on previously non-voting preferred shares, further diluting common shareholders.
[AI Summary]While the insider buying signals confidence, the dilution from CB conversion and preferred share revival offsets the positive effect. The net impact on shareholder value is neutral to slightly negative, warranting close monitoring of future financing and dividend policies.