Chinyang Holdings Corp. (KOSE:A100250) agreed to sell 1.97% stake in Chinyang Development Co. Ltd. for KRW 900 million in cash on February 23, 2012. Chinyang Holdings will sell 0.18 million shares for KRW 5000 per share. The Board of Directors of Chinyang Holdings Corp. took the resolution on February 23, 2012. The transaction is expected to close by April 2, 2012.

Chinyang Holdings Corp. (KOSE:A100250) cancelled the sale of 1.97% stake in Chinyang Development Co. Ltd. on February 23, 2013.