SUNJIN BEAUTY SCIENCE Withdraws Spin-off Decision as Appraisal Rights Exceed 2 Billion KRW, Preserving Current Corporate Structure

SUNJIN BEAUTY SCIENCE’s spin-off plan was approved at a temporary shareholders' meeting on June 10, 2026, but the company’s board decided to withdraw the decision because the aggregate amount of appraisal rights exercised by opposing shareholders exceeded 2 billion KRW.
The exercise of appraisal rights by dissenting shareholders surpassed the statutory threshold, prompting the board to cancel the spin-off and maintain the existing single-entity structure.
This withdrawal results in no capital changes or dilution, and existing shareholders’ equity remains unaffected.
[AI Summary]The withdrawal of the spin-off plan reveals shareholder opposition but the company followed proper legal procedures. The financial burden from appraisal rights is limited to 2 billion KRW, and maintaining the current structure leads to a neutral short-term impact on shareholder value. Without further restructuring plans, the effect on the stock price is expected to be limited.