Dasco Decides to Sell Treasury Shares Worth 2.33 Billion KRW for Energy Business Working Capital

Dasco has decided to sell 540,000 treasury shares at 4,320 KRW per share through an over-the-counter transaction, approved by the board on July 2, 2026.
The counterparties are Hongin Co., Ltd. and Gasco Co., Ltd., both related parties to the largest shareholder, each acquiring 270,000 shares, and are subject to short-swing profit regulations under the Capital Markets Act.
The proceeds of approximately 2.33 billion KRW will be used for working capital to support the expansion of the energy business order book.
The disposal ratio is 2.71% of total outstanding shares, resulting in minimal dilution effect, but the reduction in treasury shares eliminates potential for future shareholder value enhancement through cancellation.
After the sale, the remaining treasury shares will be 1,365,188 shares or 6.84% of total outstanding shares.
[AI Summary]Dasco's treasury share sale is a financial decision to fund its energy business, but the over-the-counter sale to related parties raises governance concerns and potential conflicts of interest with minority shareholders. The 2.33 billion KRW transaction at market price of 4,320 KRW per share has a limited dilution effect of 2.71%, but the conversion of trust-held shares to direct holdings prior to the sale indicates a short-term liquidity focus.