Gold&S halts delisting proceedings after filing court injunction

Gold&S said Thursday it has successfully applied for a provisional injunction to suspend the effectiveness of a delisting decision, halting all scheduled procedures including an impending final trading session. The company confirmed receipt of the court's notification on the same day, effectively pausing the regulatory timeline that began when the delisting cause occurred on the 16th.

The planned final trading period and subsequent removal from the exchange will not proceed until the court issues a final ruling on the validity of the injunction request. The move buys the firm time to address the market capitalization shortfall that triggered the initial delisting threat.

Yang Hong-geol, chief executive officer of Gold&S, attributed the recent share price weakness to non-fundamental factors rather than operational failures. "The recent decline in our stock price is not due to problems with fundamentals such as sales or operating performance," Yang said. He argued the drop stemmed from investor anxiety over meeting new market cap requirements and a broader shift of investment capital toward specific blue-chip stocks.

Yang added that he does not believe the current share price fully reflects the company's intrinsic value. In response, the company has outlined a strategy involving paid-in capital increases, mergers and acquisitions, and a recently executed five-for-one reverse stock split. Management has set a target of growing sales by 300 percent following its acquisition of Siwon School, an online language education platform offering courses in 45 subjects.

A company official described the improvement plan as a substantive action plan to fulfill promises to shareholders rather than a simple response to regulatory requirements. The official stated that maintaining the listing and enhancing corporate value are the top management priorities, and the company will mobilize all available means to achieve these goals.