B&D Life Health Co., Ltd. concluded a contract to acquire IBKS No.2 Special Purpose Acquisition Company from Susung Asset Management Co., Ltd., With Investment Co., Ltd., EBEST Investment & Securities Co., Ltd., KTB Private Equity and others in a reverse merger transaction.
The meeting of shareholders will be held on December 31, 2015. As the resolution conditions of the general meeting of shareholders of IBKS No.2 Special Purpose Acquisition Company and B&D Life Health Co., Ltd. correspond to the special resolution details, the merger approval of more than 1/3 of total number of issued shares and more than 2/3 of voting rights of the participated shareholders are needed. The creditors can submit their objections from December 31, 2015 to January 31, 2016. The Board of Directors passed a resolution for the transaction on September 10, 2015. The deal is expected to close by February 2, 2016 and will be registered by February 3, 2016. Shinah Accounting Corporation acted as the rating institution.