Alticast Corporation Amends Business Report to Disclose Treasury Stock Holdings and Cancellation Plans
Alticast Corporation filed a correction to its business report on June 30, 2026, supplementing previously omitted treasury stock information. This action was taken in response to a request from the Financial Supervisory Service and does not involve any changes to financial figures.
As of December 31, 2025, the company holds 779,744 treasury shares, representing 1.25% of total issued shares. The company plans to cancel all these shares in the first half of 2026, with a long-term intention to cancel in accordance with the revised Commercial Act, though specific timing remains undetermined.
Alticast recorded revenue of 53.2 billion KRW and operating profit of 3.2 billion KRW in 2025, achieving a turnaround to profitability. However, consolidated net income was only 1.3 billion KRW, and on a separate basis, the company reported a net loss of 4.6 billion KRW with accumulated deficit of 58.5 billion KRW. The largest shareholder changed to Beno T&R in January 2025 with a current stake of 19.23%.
The company has decided on a 5-to-1 reverse stock split approved by the shareholders' meeting on March 24, 2026, reducing the number of shares from approximately 62.6 million to 12.5 million. The purpose is to offset accumulated deficits and improve the capital structure.
[AI Summary]This correction to Alticast's business report is an administrative procedure that supplements previously omitted treasury stock information, with no substantial financial changes or impact on shareholder value. The turnaround to consolidated profitability in 2025 is positive, but the separate financial statements remain loss-making and accumulated deficits exceed equity, indicating the need for capital improvement. Large potential dilution exists from convertible bonds and hybrid securities with conversion prices below the current stock price. A reverse stock split is planned to address capital erosion.
KOSDAQ Filing Information
[Correction of Description] Business Report (2025.12)