Choil Aluminum Calls 2026 EGM to Approve 5-for-1 Stock Consolidation Reducing Shares to One-Fifth

The board resolved on July 1, 2026 to convene an extraordinary general meeting on August 7, 2026 at 10 AM at the company auditorium in Gyeongsan.
Agenda items include amending the articles of incorporation and approving a stock consolidation, changing the par value from 500 KRW to 2,500 KRW, resulting in a 5-for-1 reverse split.
Consequently, outstanding shares will decrease from 126,631,721 to approximately 25,326,344 shares, with the share price adjusting from 977 KRW to around 4,885 KRW, leaving market capitalization unchanged.
The consolidation aims to enhance share price stability and meet listing requirements; existing shareholders' ownership percentages remain unchanged, but liquidity may decrease.
This action was previously disclosed on July 1, 2026, and now requires final shareholder approval at the meeting.
[AI Summary]Choil Aluminum calls an EGM for a 5-for-1 reverse stock split reducing shares to one-fifth without altering market cap, thus no dilution for existing shareholders. This defensive move aims to boost the stock price and maintain listing status with neutral financial impact.