Carry Completes First Round CB Principal and Interest Repayment... "Restoring Investor Confidence"

Carry announced on the 23rd that it has fully repaid the principal and interest of the bonds related to the 1st tranche of convertible bonds (CB).

Out of the previously issued 10 billion KRW scale 1st tranche CB, 1 billion KRW has been converted. 8 billion KRW (approximately 8.44 billion KRW including interest) has also been fully repaid. Additionally, the remaining 1 billion KRW was sold to another company, resolving all unpaid debt situations.

On July 16th this year, Carry disclosed that a put option event occurred due to the loss of the benefit of time for the 1st tranche CB, and that unpaid reasons arose due to a lack of funds to fulfill the debt obligations.

Through the full repayment of the bond principal and interest this time, Carry expects to resolve risks and that the management, with a determination for a second founding, will play an important role in restoring trust from shareholders and the market by newly promoting overseas raw material distribution business and diversifying its business.

In particular, a company official explained that tasks related to securing additional funds in the future will also proceed smoothly. Considering various factors comprehensively, additional expectations for the company are expected to have a positive impact on the market.

A Carry official said, “We will continue to do our best for the sustainable growth of the company, and while diversifying overseas raw material import routes, concrete plans for securing funds along with improving a stable financial structure necessary for this are underway,” adding, “We will transform the company into a newly reborn entity through responsible management and new businesses.”