MYH, Largest Shareholder, Extends Stock Collateral Pledge with Risk of Stake Dilution
- MYH, the largest shareholder, pledges 5,871,599 of its 11,578,506 shares (17.83%). Full exercise of collateral would reduce stake to 8.79%, potentially losing controlling status.
- Total loans amount to 31.36 billion won, with collateral value of 68.91 billion won. Most of the 10 contracts are for operating funds and share acquisition.
- Collateral enforcement conditions include failure to maintain collateral ratio. Contract date corrected from 2026-03-20 to 2026-05-11 (maturity extension).
- Debtor MYH's financials (2016): assets 107.2B won, liabilities 47.0B, equity 60.2B, net loss 1.27B. Ultimate owner Seung Man-ho holds 49.14% of MYH.
- The listed company provides collateral (time deposits of 5.25B won) and guarantees (5.765B won) to MYH for three consecutive years.
ADVERTISEMENT (250px+)
KOSDAQ Filing Information
- Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder
- Company: Western T&D (006730)
- Submission: Western T&D
- Receipt: 05-11-2026
- Under KRX KOSDAQ Market Division