DAVOLINK Largest Shareholder TerraScience's Pledge of 3 Billion Won Released, Total Pledge Halved; Sole Pledgee Jung Yul-geun Retains Pledge on 4.22 Million Shares
DAVOLINK announced on July 6, 2026, a corrected disclosure regarding a stock pledge agreement involving a change in the largest shareholder. The correction states that the pledged amount of 3 billion won from joint pledgees Kim Yeon-ju and Lee Myung-hee has been fully recovered, resulting in the release of their pledge. Consequently, total pledged shares decreased from 5,026,587 to 4,222,500 shares, and total debt was halved from 6 billion to 3 billion won.
If all pledges are exercised, the remaining stake of largest shareholder TerraScience would improve from 0.79% to 2.34%. However, approximately 8.1% of total shares remain pledged to the sole pledgee Jung Yul-geun, keeping management instability high.
TerraScience is undergoing rehabilitation proceedings with ongoing legal disputes over illegal pledge setups, and its 2023 audit opinion was denied, indicating low financial credibility and high governance risk.
The company has not disclosed any shareholder return policies such as treasury stock acquisition or cancellation, and no financial soundness indicators like BIS ratio or NPL are applicable.
[AI Summary]This correction reflects a positive change with partial pledge release, but the remaining large pledge and the largest shareholder's unresolved financial and legal risks limit the actual impact on share price. The possibility of additional pledge execution and management change risk persists, implying continued downside pressure in the short term.
KOSDAQ Filing Information
[Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder