CUROCOM.Co.Ltd. (KOSDAQ:A040350) signed a contract to acquire 10.9% stake in U-Tech Co.,Ltd (KOSDAQ:A178780) from Bong-Geun Yoo for KRW 10 billion on May 12, 2016. Under the terms of the deal, 1.1 million shares will be acquired. The payment schedule will be as follows: 10% of the total acquisition amount will be paid on the contract signing date and the balance will be paid on the transaction closing date. The transaction will be financed with cash in possession. The resolution date of Board of Directors is CUROCOM.Co is May 12, 2016. The transaction is expected to complete on June 27, 2016. Nexia-Samduk acted as external rating institution.

CUROCOM.Co.Ltd. (KOSDAQ:A040350) cancelled the acquisition of 10.9% stake in U-Tech Co.,Ltd (KOSDAQ:A178780) from Bong-Geun Yoo on July 8, 2016.