Irem Completes Subscription for Rights Offering by Major Shareholders

Irem announced on the 7th that major shareholders, including the largest shareholder Kostil and Chairman Park Jaecheon, subscribed to more than 30% of their allocated shares in the rights offering for existing shareholders.

Despite the worsening external environment with increasing uncertainties, Irem's largest shareholder and major shareholders completed subscriptions of over 30% of their allocated shares, demonstrating responsible management.

Through this rights offering, Irem plans to improve its financial structure by reducing its debt ratio from 246% to 155%, accelerating the normalization of its management.

Meanwhile, the final issue price for Irem's rights offering is 1,175 KRW, and the unsubscribed shares from the existing shareholders' subscription will be offered through a public offering on the 12th and 13th. The listing date for the new shares from the rights offering is scheduled for the 29th of this month.

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