PanStar Enterprise Approves 2-for-1 Reverse Stock Split at Shareholders' Meeting... Par Value Raised from 500 to 1,000 Won

PanStar Enterprise is moving to stabilize its stock price through a reverse stock split.

On March 26, PanStar Enterprise announced that it had held its 31st Annual General Meeting of Shareholders at its headquarters in Jungang-dong, Jung-gu, Busan, and approved a 2-for-1 reverse stock split proposal.

This split aims to maintain an appropriate number of shares in circulation, thereby stabilizing the stock price and enhancing corporate value. As a result, two common shares with a par value of 500 won each will be combined into one common share with a par value of 1,000 won. The total number of outstanding shares will decrease from 115,741,890 to 57,870,945.

At the same meeting, outside directors were also appointed. Yangsoo Kim, Chairman of the Korea Maritime Foundation, and Seongdong Park, a certified public accountant and CEO of Woonam Tax & Accounting Consulting, were newly appointed as outside directors. Among the inside directors, Jaekeun Kwon and Minseon Kim, whose terms had expired, were reappointed.

In addition, both the approval of the financial statements and the proposal for director remuneration limits were passed as originally proposed.

This content was produced with the assistance of AI translation services.