Korinox ENT Co.,Ltd agreed to acquire 4% stake in Advanced Digital Chips Inc. (KOSDAQ:A054630) from Jung-Il Choi for KRW 1.4 billion in cash on August 25, 2015. Korinox ENT Co.,Ltd acquired 0.34 million shares at KRW 4000 per share. After the transaction, Jung-Il Choi holds no stake in Advanced Digital Chips.

In a related transaction, Korinox ENT Co.,Ltd acquired 0.48 million shares at the price of KRW 11,041 per share. The Board of Directors passed a resolution for the transaction on August 25, 2015 and the transaction is expected to complete on August 25, 2015. The deal is now expected to close by October 16, 2015.