Major Shareholder Additional Pledge and Financial Risk Intensification
- Major shareholder Gem & Company entered into an additional stock pledge agreement (No. 12) for operating funds: 293,194 shares pledged (up from 195,805), collateral amount KRW 6 billion.
- Total pledged shares increased to 4,621,674 (84.7% of major shareholder's 5,456,126 shares). If all pledges are executed, major shareholder's stake drops from 12.32% to 1.88%.
- Debtor Gem & Company's financials (FY2025): total assets KRW 12,778M, total liabilities KRW 87,990M, total equity KRW -75,212M (full capital impairment), zero revenue, net loss KRW 13,620M.
- Total borrowings KRW 45.65 billion, total collateral amount KRW 71.78 billion. All 12 pledge contracts allow enforcement upon default of principal debt maturity.
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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: 05-15-2026
- Under KRX KOSDAQ Market Division