ED Co., Ltd. (KOSDAQ:A033110) signed a contract to acquire 14.85% stake in Hankook Technology Inc. (KOSDAQ:A053590) from Kim, Yong-Bin and HT Partners for KRW 16.3 billion in cash and bonds on February 15, 2016. ED Co., Ltd. will acquire 3.85 million shares of Hankook Technology at KRW 4232 per share. Kim, Yong-Bin will sell 2.63 million shares and HT Partners will sell 1.2 million shares of Hankook Technology. ED Co., Ltd. will issue unregistered unguaranteed private convertible bond of KRW 11.8 billion as deposit to Kim, Yong-Bin and HT Partners on February 15, 2016 and KRW 4.48 billion as balance cash payment on February 29, 2016. ED Co., Ltd. will use own funds to pay off the consideration.

As of February 22, 2016, ED Co., Ltd. issued unregistered unguaranteed private convertible bond of KRW 11.8 billion as deposit to Kim, Yong-Bin and HT Partners on February 15, 2016, will pay KRW 3 billion in cash on February 23, 2016 and KRW 1.48 billion as balance cash payment on February 29, 2016. The transaction is expected to be completed on February 29, 2016. Sang Rok Accounting Firm acted as external evaluating agency.

ED Co., Ltd. (KOSDAQ:A033110) completed the acquisition of 14.85% stake in Hankook Technology Inc. (KOSDAQ:A053590) on February 29, 2016.