Shinan Savings and Finance Co., Ltd., HUSTEEL CO., Ltd., Golden Forest Fund 1 and Shinan Capital Services Co., Ltd. cancelled the acquisition of 24.2% in DA Technology Co.,Ltd. from Myungkwan Park, Jinhyun Han and Youngtae Jung.
October 27, 2017
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Shinan Savings and Finance Co., Ltd., HUSTEEL CO., Ltd. (KOSE:A005010), Golden Forest Fund 1 and Shinan Capital Services Co., Ltd. signed a contract to acquire 24.2% in DA Technology Co.,Ltd. (KOSDAQ:A196490) from Myungkwan Park, Jinhyun Han and Youngtae Jung for KRW 18.1 billion on October 28, 2016. Under the terms, 1.4 million shares will be acquired at KRW 14,000 per share. Out of the consideration, KRW 2 billion will be paid on October 28, 2016 and the balance on December 13, 2016. Post this transaction, the sellers will hold 0.9 million shares. Shinan Group will participate in joint management. deal is expected to close on December 13, 2016. As of December 13, 2016, Youngtae Jung sold 0.03 million shares to Shinan Capital Services Co., Ltd. As on December 13, 2016 Jinhyun Han sold 0.36 million shares to Shinan Capital Services Co., Ltd. As on December 13, 2016 extraordinary shareholders' meetings director dismissal and new appointment.
As per the new amendment, 1.3 million shares will be acquired at KRW 13870 per share.
Shinan Savings and Finance Co., Ltd., HUSTEEL CO., Ltd. (KOSE:A005010), Golden Forest Fund 1 and Shinan Capital Services Co., Ltd. cancelled the acquisition of 24.2% in DA Technology Co.,Ltd. (KOSDAQ:A196490) from Myungkwan Park, Jinhyun Han and Youngtae Jung on October 28, 2017.
DA Technology Co.,Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of secondary batteries equipment. The Companyâs main products consist of secondary batteries equipment, such as notching types and folding types, flat panel display (FPD) testing equipment, cup vacuum molding presses, and others. The Company distributes its products within domestic market and to overseas markets.
Shinan Savings and Finance Co., Ltd., HUSTEEL CO., Ltd., Golden Forest Fund 1 and Shinan Capital Services Co., Ltd. cancelled the acquisition of 24.2% in DA Technology Co.,Ltd. from Myungkwan Park, Jinhyun Han and Youngtae Jung.