Major shareholder Gem & Company pledges 84.7% of holdings; stake could drop to 1.88% if executed
- Major shareholder Gem & Company pledges 4,621,674 shares (84.7% of its 5,456,126 holdings) as collateral for total borrowings of KRW 45.62 billion (revised from KRW 45.65 billion)
- If all pledges are enforced, the major shareholder's stake drops from 12.32% to 1.88%, potentially triggering a change in control
- Gem & Company's financials (FY2025): negative equity of KRW -75.212 billion, net loss of KRW 13.62 billion, total liabilities of KRW 87.99 billion
- 12 pledge contracts; most include enforcement conditions upon payment default
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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: 05-19-2026
- Under KRX KOSDAQ Market Division