SolgoBio Submits Objection to Delisting Notice

[Asia Economy Reporter Lee Jung-yoon] The Korea Exchange KOSDAQ Market Headquarters announced on the 20th that Solgo Bio has submitted an objection to its delisting.

Previously, the Exchange designated Solgo Bio as a management item due to a capital erosion rate exceeding 50%, and recently, the auditor's opinion on the semi-annual financial statements was a disclaimer of opinion. According to Article 38 of the KOSDAQ Market Listing Regulations, this constitutes grounds for delisting, and the Exchange provided guidance related to delisting.

Accordingly, Solgo Bio submitted an objection today pursuant to Article 33-4 of the Enforcement Rules of the KOSDAQ Market Listing Regulations. The Exchange plans to hold a corporate review committee meeting by September 10, within 15 days from the receipt of the objection, to deliberate and decide on the delisting, and notify the delisting decision within 3 days thereafter.

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