GemVax & KAEL discloses correction to its largest shareholder's share pledge agreement.

This correction, filed on October 19, 2026, fixes the terms of the share pledge agreement under which (Ltd.) Gem&Company, the largest shareholder of GemVax & KAEL, provided its shares as collateral. The company said the correction reflects the partial repayment and extension of the previously disclosed Hana Bank secured loan, and the total debt amount changed from KRW 44.86 billion to KRW 44.77 billion (as corrected). There are 11 collateral agreements in total, and the total collateral amount is about KRW 66.8 billion (KRW 66.77 billion as stated in the original text).

1. 01

   The correction reflects the partial repayment and extension of the previously disclosed secured loan from Hana Bank (sequence 4), and the total debt amount is corrected from KRW 44.86 billion to KRW 44.77 billion.

2. 02

   The collateral provider is (Ltd.) Gem&Company, the largest shareholder, which has pledged shares equal to 11.95% of the largest shareholder's stake as collateral.

3. 03

   The company said that if all collateral rights are enforced, the largest shareholder's shares would be 3,643 shares, a stake of 0.01%.

4. 04

   The borrower is (Ltd.) Gem&Company, and the filing lists its total equity as -KRW 75.212 billion and its net income as -KRW 13.62 billion as of the 2025 fiscal year-end.

An AI model translated the Korean summary of this filing into English; every number is carried over from the Korean original. Reference information, not investment advice.

Key figures

Total debt (borrowing) amount (after correction)

KRW 44.77 billion (about KRW 44.8 billion)

Total debt (borrowing) amount (before correction)

KRW 44.86 billion (about KRW 44.9 billion)

Total collateral amount

KRW 66.77 billion (about KRW 66.8 billion)

Shares held by largest shareholder as of filing date / stake

5,433,132 shares / 11.95%

Cumulative number of share pledge agreements

11 agreements

Cumulative total number of pledged shares

5,429,489 shares

Filing facts

Filing type

Change of Largest Shareholder

Report name

[Amended] Share Pledge Agreement Involving a Change of Largest Shareholder

Filed

Oct 19, 2026

Receipt number

20261019900433