JSN Holdings Co., Ltd. and three undisclosed buyers signed a contract to acquire 35.7% stake in ACT Co., Ltd. (KOSDAQ:A138360) from Bo-Seaub Lee for KRW 30 billion on September 20, 2017. As per the terms of the transaction, a deposit of KRW 2 billion was made on September 20, 2017. The balance payment of KRW 28 billion will be deposited in a law firm a day before the extraordinary meeting of shareholders and the transfer of funds will be made at the same time when the actual target of 2.2 million shares are transferred on the date of the extraordinary meeting of shareholders in which KRW 24.7 billion will be paid for acquiring 1.8 million shares on December 7, 2017 and KRW 3.31 billion will be paid for acquiring 0.39 million shares on December 21, 2017. JSN Holdings Co., Ltd. will acquire 0.81 million shares at KRW 13,731.5 per share as part of the transaction. On November 24, 2017, the terms of the deal has been revised and as per the revised terms, the remaining consideration of KRW 28 billion will be deposited in a law firm until November 30, 2017 and Bo-Seaub Lee will confirm the completion of the balance payment and transfer the target shares of 2.2 million shares. On December 7, 2017, the current contract was amended due to the failure of the contract terms observance by the JSN Holdings Co., Ltd and other buyers (failure to pay for the remaining balance). As per the amended contract re-signed on December 7, 2017, the balance payment of KRW 28 billion will be paid in two installments, KRW 24.6 billion by December 8, 2017 and KRW 3.5 billion by December 21, 2017. As on December 13, 2017, the whole consideration is paid. The extraordinary shareholders' meeting of ACT Co., Ltd. will take place on November 7, 2017. The transaction is expected to complete on November 7, 2017. As of November 7, 2017, the closing date was extended to November 21, 2017 due to the change of the extraordinary shareholders’ meeting date. As per the amendment report dated November 13, 2017, the transaction is now expected to be completed by November 28, 2017. As of November 24, 2017, the transaction is expected to close on November 30, 2017. JSN Holdings Co., Ltd. and three undisclosed buyers cancelled the acquisition of 35.7% stake in ACT Co., Ltd. (KOSDAQ:A138360) from Bo-Seaub Lee on September 20, 2018.