Securities and Exchange Act Article 25

A company that publicly issues stock, after registration, shall promptly file with the Competent Authority and announce to the public the class and numbers of the shares held by its directors, supervisors, managerial officers, and shareholders holding more than ten percent of the total shares.The holders of stock referred to in the preceding paragraph shall file, by the fifth day of each month, a report with the company of any changes in the number of shares they held during the preceding month. The issuer shall compile that information and file it with the Competent Authority by the fifteenth day of each month. When necessary, the Competent Authority may order the company to announce that information publicly.The provisions of paragraph 3 of Article 22-2 shall apply mutatis mutandis to the calculation of shareholding referred to in the preceding two paragraphs.When stock referred to in paragraph 1 is pledged, the pledgor shall immediately notify the company. The company shall file with the Competent Authority and publicly announce the status of a pledge of stock within five days after the creation of the pledge.