E8 Says Delisting Concerns Are Overblown... "Will Enhance Corporate Value by Strengthening Business Competitiveness"

E8 said concerns that it could be delisted for failing to meet the market capitalization requirement were excessive. The company said it had met the share-price requirement through a 5-for-1 reverse stock split and that the delisting process over its failure to meet the market capitalization requirement had been suspended. It plans to restore its corporate value and shareholder confidence by strengthening its business competitiveness and expanding communication with the market.

On November 12, E8 posted a notice to shareholders on its website, explaining the circumstances behind its designation as an issue subject to administrative measures, the status of improvements to the related requirements, and its plans for future action.

The company said it had resolved the share-price shortfall that led to its designation as an issue subject to administrative measures through a 5-for-1 reverse stock split. It added that it had continued to meet the relevant requirement since trading resumed on November 4.

The delisting process over its failure to meet the market capitalization threshold of KRW 20 billion has been suspended in accordance with a decision by the Korea Exchange on October 7. The company explained that even if it continues to fall short of the market capitalization requirement, delisting proceedings will not begin immediately before the exchange makes a further decision.

E8 emphasized that being designated as an issue subject to administrative measures does not automatically mean it will be delisted, and said it would continue working to meet the relevant requirements.

The company plans to focus its efforts on strengthening its business competitiveness and enhancing its corporate value. It will also expand communication with shareholders and investors by providing timely and transparent updates to the market on its business progress and future plans.

An E8 representative said, "We sincerely apologize for causing concern among our shareholders due to the recent decline in our share price and our designation as an issue subject to administrative measures. We will do our utmost to enhance our corporate value and deliver tangible results so that we can promptly address shareholders' concerns and regain the market's confidence."

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