Lee Ho Jun agreed to acquire 6.94% stake in SETi Co., Ltd (KOSDAQ:A114570) from Jeju Semiconductor Corp. (KOSDAQ:A080220) for approximately KRW 3 billion in cash on February 24, 2014. As per the terms of the deal, Lee Ho Jun will acquire one million shares of SETi Co., Ltd. Lee Ho Jun will also exercise his bonds with warrants and converted them into 0.56 million shares.

Pursuant to the transaction, Jeju Semiconductor will hold 1.08 million shares in SETi. The stock acquisition was signed on March 18, 2014. The Board of Directors of Jeju Semiconductor took the resolution for the transaction on March 18, 2014.

The transaction is expected to close on April 30, 2014.