Correction of Stock Pledge Agreement Involving Change in Largest Shareholder (Extension and Repayment of Stock-Backed Loans)
- Largest shareholder Jeon Dong-gyu corrected 13 pledge contracts (cumulative 10,211,390 shares): some creditors removed, maturity extended, total debt 187.1B won, total pledge 255.4B won
- If all pledges executed, his stake could drop from 19.61% to 3.55%
- Pledged 6,391,345 shares to new investors (SJ Value Up, Sistema First) to secure put option (pledge of right)
- All contracts include margin call conditions (additional collateral or liquidation upon maintenance ratio breach)
- Reason for correction: extension and repayment of stock-backed loans
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KOSDAQ Filing Information
- Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder
- Company: Seojin System (178320)
- Submission: Seojin System Co., Ltd.
- Receipt: 05-04-2026
- Under KRX KOSDAQ Market Division