Samchulli announced in a regulatory filing on the 16th that Seongkyung Food, its wholly-owned subsidiary, will conduct a 50 billion won rights offering to improve its financial structure and secure investment funding.

Through this paid-in capital increase, Seongkyung Food will issue 2,384,359 common shares at 20,970 won per share. The total issuance amount is approximately 50 billion won, with an allocation ratio of 0.4184770 shares per share.

Key Schedule for Paid-in Capital Increase The record date for the new share allocation is July 15, and the subscription and payment by existing shareholders will take place on July 24. The company added that the number of shares outstanding before the capital increase is based on the day prior to the filing date, and that the announced schedule may change depending on progress.

Fundraising and Use of Proceeds The raised funds will be used for 20.0823 billion won in debt repayment and 30 billion won for the acquisition of securities of other entities. This capital increase does not include any purpose of raising facility or operational funds.

About Seongkyung Food Seongkyung Food, whose main business is the manufacturing and sale of seasoned seaweed, has total assets of approximately 11.736981 billion won. This accounts for 2.6% of Samchulli's consolidated total assets. The company explained that this filing concerns the decision on a paid-in capital increase by its wholly-owned subsidiary.