Proxy Solicitation for Extraordinary General Meeting to Approve Stock Consolidation and Articles Amendment of WOOREE BIO
WOOREE BIO will hold an extraordinary general meeting on July 15, 2026 to approve a 5:1 reverse stock split and related amendment to the articles of incorporation.
The consolidation ratio is 5:1, changing the par value from 500 KRW to 2,500 KRW and reducing total shares from 48,456,578 to 9,691,315.
Fractional shares will be paid in cash at the closing price on the first listing day after consolidation, with the goal of stock price stabilization and enhanced corporate value.
This is a structural adjustment with negligible change to stated capital and involves no new fundraising or dividend policy changes.
[AI Summary]The reverse stock split is a face value adjustment aimed at boosting the stock price, with no real change in intrinsic value or shareholder return. It may send a short-term positive signal but long-term value depends on future performance.