Il Dong Pharmaceutical Co. Ltd.

04/30/2024 | Press release | Distributed by Public on 04/30/2024 02:03

Adjustments of Conversion Price, Warrant Exercise Price or Exchange Price (Information Disclosure)

Adjustments of Conversion Price, Warrant Exercise Price or Exchange Price (Information Disclosure)
1. Category Adjustment of Conversion Price
2. Type of securities The first bear-type non-interest-bearing non-guaranteed private convertible bonds
- Warrant certificates listed? No
3. Details of adjustment Series No. Price before adjustment (KRW) Price after adjustment (KRW)
1 16,010 16,000
4. Change in the number of shares subject to conversion, exercise or exchange Series No. Total face value of unexercised securities (or electronically registered securities) (KRW) Number of shares subject to conversion, etc. before adjustment Number of shares subject to conversion, etc. after adjustment
1 20,000,000,000 1,249,219 1,250,000
5. Reasons for adjustment Adjustment of conversion price due to a fall in market price
6. Basis and method of adjustment 1. Basis of adjustment

Matters concerning the adjustment of the conversion price in the acquisition contract for the first bearer-type non-interest-bearing non-guaranteed private convertible bonds

4) Re-adjustment of the conversion price due to a decline in the market price (Refixing conditions): Separately from items 1) through 3) above, every three months from the day one year has passed since the date of issuance, using the day before the date of adjustment of the conversion price as the base date, if the higher of the arithmetic average of the one-month weighted average stock price, the one-week weighted average stock price, and the recent days' weighted arithmetic average stock price and the recent days' weighted arithmetic average stock price is lower than the conversion price of these bonds, the price is adjusted to the new conversion price. However, the new conversion price shall not be less than 80% of the conversion price at the time of issuance. If the conversion price has already been adjusted for reasons such as the issuance of new shares at a discount before the adjustment date, the price shall be calculated accordingly.

5) After adjusting the conversion value according to items 1) through 4) above, if it is less than the par value of the stock, the conversion price shall be set at the par value. Additionally, the total amount of the conversion price of the stocks to be issued upon conversion of each convertible bond shall not exceed the issue price of each convertible bond.

6) After adjustment according to this paragraph, any conversion price that is less than the quoted unit shall be adjusted to match the quoted unit.

2. Method of adjustment
⒜ 1-month weighted arithmetic average stock price: KRW 15,310.72
⒝ 1-week weighted arithmetic average stock price: KRW 15,074.78
⒞ Recent days' weighted arithmetic average stock price: KRW 15,265.35
⒟ Arithmetic average stock price of ⒜, ⒝, and ⒞: KRW 15,216.95
⒠ Reference stock price (the higher of ⒞ and ⒟): KRW 15,265.35
⒡ Minimum adjustment price limit: KRW 16,000
(80% of the initial exercise price of KRW 20,000, the amount below KRW 1 rounded off)
⒢ Exercise price before adjustment: KRW 16,010
⒣ Exercise price after adjustment: KRW 16,000
(The amount below KRW 1 was rounded off.)
7. Effective date of adjusted price 2024-04-29
8. Date of board resolution (decision date) -
- Attendance of outside directors Present (No.) -
Absent (No.) -
- Attendance of auditors (members of Audit Committee who are not outside directors) -
9. Other matters to be factored into investment decisions The above is an adjustment to the conversion price due to the decline in the market price and did not require a separate board resolution.
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