Brand Refactoring, Largest Shareholder of Dong Sung Pharmaceutical: "Acquisition Under Discussion Not Yet Finalized"

Brand Refactoring, the largest shareholder of Dong Sung Pharmaceutical, stated on January 20 that, amid ongoing reports regarding a potential acquisition of Dong Sung Pharmaceutical, the acquisition currently under discussion is still at a conditional stage prior to approval by the bankruptcy court, and no legal or procedural decisions have been finalized yet.

Brand Refactoring explained, "The acquisition structure currently being discussed is a conditional process, contingent upon the approval of the rehabilitation plan and the resolution at the meeting of interested parties," adding, "Reports that may give the impression that the acquisition has already been completed before the court's decision could cause confusion among minority shareholders and trade creditors."

Regarding the nature of the rehabilitation process, Brand Refactoring stated, "The rehabilitation process is a system that proceeds through strict, step-by-step judgments under the supervision of the court," and emphasized, "Presenting any specific conclusion as a foregone fact before court approval does not align with the intent of the process and could affect the rational judgment of stakeholders."

The company further added, "The future course of Dong Sung Pharmaceutical will be ultimately determined after approval by the bankruptcy court and a resolution at the meeting of interested parties," and cautioned, "At this stage, it is necessary to avoid interpretations or assumptions based on any specific acquisition outcome."

Brand Refactoring also clarified its position as the largest shareholder. The company stated, "Regardless of support or opposition to any particular acquirer, it is most important to provide fact-based information so that all stakeholders can make decisions based on the same and accurate information," and stressed, "Until the process is complete, respecting the court's decisions and the institutional process should take precedence."