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Photo = Samchundang Pharm |
[Alpha Biz= Paul Lee] Samchundang Pharm has been referred to the KOSDAQ Market Disclosure Committee for review, raising attention over potential penalties.
According to industry sources on April 15, the Korea Exchange notified the company that its case will be reviewed by the disclosure committee rather than handled through an internal review process.
Cases are typically resolved through exchange-level reviews, but referral to the committee indicates that more in-depth deliberation is required regarding possible disclosure violations.
The committee is expected to determine by April 23 whether Samchundang Pharm should be designated as a “non-compliant disclosure company” and decide on penalty points.
Last month, the exchange issued a preliminary notice citing the company’s failure to properly disclose forecasts or projections related to its business performance. Instead, the company had only released a press statement without making a formal regulatory filing.
If Samchundang Pharm is formally designated as a non-compliant disclosure entity and receives penalty points of eight or more, its shares could face a one-day trading suspension. Accumulated penalty points of 15 or more could trigger a substantive listing eligibility review.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
