Change of Largest Shareholder via Debt-to-Equity Swap Under Rehabilitation (Stake from 19.93% to 15.87%)

The largest shareholder changed due to equity conversion under the approved rehabilitation plan. The previous largest shareholder, Melvin F&B (1,576,556 shares, 19.93%), was replaced by Park Kwang-seok (acquired 9,455,845 shares, 15.87%), with the former's stake diluted to 2.65%.
Park Kwang-seok funded the acquisition of approximately 4.73 billion won (4,727,922,500 won) entirely with self-funds, no borrowings.

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