ICH Enters New Robot Materials and Components Business... 5-for-1 Stock Split Approved

[Financial News] ICH, a company specializing in advanced materials and components, will add robot materials and components to its business objectives and move to target the Embodied AI market.
ICH announced on the 31st that an extraordinary general meeting of shareholders approved, as proposed, amendments to its articles of incorporation to add the manufacturing and sale of robot materials and components to its business scope, along with a 5-for-1 stock split.
Through the revised articles, ICH plans to expand its robot-related materials and components business centered on Embodied AI and secure new revenue streams. The company recently began supplying high-performance polyurethane foam materials used in mass-produced humanoid robots from global companies.
It also expanded its capacity to raise funds from outside investors. The limit on issuing new shares through third-party allotment, which can be used for urgent financing, technology acquisition, Research and Development (R&D), and production, was raised from 20% to 50% of the total number of issued shares. The move is intended to diversify financing options in the process of attracting strategic investors and outside investors.
The 5-for-1 stock split proposal also passed. As a result, the total number of issued shares will fall from about 25.79 million to 5.16 million, and the par value per share will change from 500 won to 2,500 won. There will be no change in capital due to the split. The company said the decision was made to maintain an appropriate number of shares in circulation and stabilize the stock price.
An ICH official said, "Through this extraordinary shareholders' meeting, we have reorganized our business and capital structure and laid the groundwork for growth and higher shareholder value." The official added, "We will accelerate mass production and sales of new businesses such as robots, while improving the profitability of our existing businesses to strengthen financial stability and corporate value."
[email protected] Choi Du-seon Reporter