Green BTS Calls EGM for 32% Capital Reduction, Articles Amendment (Trading Suspended, Legal Disputes Ongoing)

EGM convened on May 22, 2026; key agenda: capital reduction (deficit coverage), articles amendment, election of directors/auditor, approval of compensation limits
Capital reduction: consolidation of 21,000,000 common shares (32.23%), post-reduction shares: 44,152,039 (record date June 9, 2026)
Articles amendment: new directors term 6 months, remuneration capped at KRW 1 (shareholder proposal/court order); introduction of independent directors, board size 3-5, single auditor
2 out of 5 director nominees (Choi Soo-il, Kim Dong-hyun) were submitted per court injunction but later resigned
1 out of 2 auditor nominees (Kim Shin-myoung) also related to court injunction, background not provided
Injunctions against prior AGM (Cheongju District Court 2026Kahap538, 539) pending; same agenda re-submitted
Company's stock trading suspended since June 23, 2025 due to listing eligibility review; awaiting delisting decision after improvement period ends May 17, 2026
Director compensation limit: KRW 1 billion; auditor compensation limit: KRW 100 million (2024 actual: KRW 464 million and KRW 24 million respectively)

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