Geumyang Withdraws 450 Billion KRW Shareholder-Allocated Capital Increase

Securities Registration Statement Submitted in September, Then Halted by Financial Supervisory Service
"Decided Other Fundraising Methods Are Better..."

KOSPI-listed company Geumyang has abruptly withdrawn its plan for a 450 billion KRW rights offering.

On the 17th, Geumyang stated in a disclosure, "After comprehensively reviewing various conditions, we have determined that not proceeding with this public rights offering and instead raising funds through other methods would better serve the interests of existing shareholders and new investors, as well as enhance corporate value. Therefore, we have reluctantly decided to withdraw this rights offering."

Geumyang resolved a 450 billion KRW rights offering on September 27 last year to raise funds for facility investments and debt repayment, and submitted a securities registration statement on September 30. However, on October 17 last year, the Financial Supervisory Service requested a revised registration statement, and no progress was made thereafter.

Geumyang explained the reason for withdrawing the rights offering, saying, "Due to the prolonged delay of the rights offering, we faced unforeseen internal and external factors that significantly fell short of the expected value anticipated from the originally planned rights offering."

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