KOREA CEMENT co., Ltd announced a private placement of 28,951,936 common shares at the price of KRW 1,727 per share for gross proceeds of KRW 49,999,993,472 on June 18, 2024. The transaction will include participation from new investors Gangdong Ascon Co., Ltd. for 7,527,504 shares, Mirae Corporation for 4,632,310 shares, Gangdong Remicon Co., Ltd. for 5,211,349 shares, Kangdong Concrete Co., Ltd. for 3,474,232 shares, Kangdong Co., Ltd. for 2,895,193 shares, Goryeo Remicon Co.,Ltd for 2,895,193 shares, Daebo Remicon Co.,Ltd for 2,316,155 shares. The company will issue shares of par value of KRW 100 per share through third party allocation method.

The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 31,979,960 shares to 60,931,896 shares. The transaction has been approved by board of directors of the company.

The payment date for the transaction is July 1, 2024.