Planned Change of Largest Shareholder from Futronic to Otronic, Stock Transfer Agreement of 28.2 Billion KRW Signed

A contract was signed on July 19, 2026, for former largest shareholder Futronic Co., Ltd. to transfer 11,182,338 shares or 28.91% of Smotronic to Otronic Co., Ltd.
The transfer price is 2,525 KRW, the closing price on the last trading day before the contract date, for a total consideration of 28.2 billion KRW. Combined with Otronic's existing 1.07% stake, its final ownership will be 29.99%, making it the new largest shareholder.
This transaction is a stake transfer between Otronic's largest shareholder Ko Ji-seong and related parties. The closing is contingent on conditions precedent in the Futronic contract, and an amendment will be filed once the date is fixed.
Otronic has a solid financial profile with 2025 consolidated total assets of 478 billion KRW, revenue of 192.9 billion KRW, and net income of 21.2 billion KRW.
[AI Summary]The change in control is a secondary sale without new capital raising or dilution, neutral to existing shareholder value. The new major shareholder's financial stability is sound, but the lack of disclosed business plans limits short-term stock price impact.