[Correction] Largest Shareholder Extends Pledge, Pledge Ratio 82.9% and Debtor's Deteriorating Finances
- • Largest shareholder (Gem&Company) pledges 4,524,285 shares (82.9% of its 5,456,126 shares, 12.32% stake).
- • Total borrowings: 45.65 billion KRW; total pledge amount: 71.78 billion KRW.
- • Pledge contracts with SangSangIn Plus Savings Bank and SangSangIn Savings Bank extended by 3 months (expiry Aug 14, 2026).
- • Debtor (Gem&Company) financials: assets 12.78B, liabilities 87.99B, equity -75.21B, net loss 13.62B (FY2025).
- • Pledge enforcement triggers: default on principal debt or insufficient collateral.
- • High pledge ratio and debtor's weak finances pose risk of forced sale and potential change in control.
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KOSDAQ Filing Information
- Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder
- Company: GemVax & KAEL (082270)
- Submission: GemVax & KAEL Co.,Ltd.
- Receipt: 05-14-2026
- Under KRX KOSDAQ Market Division