Yeonwoo & Company Co., Ltd. and Martin Jay Co., Ltd. completed the acquisition of 9.3% stake in IntroMedic Co., Ltd. from Synergy-Metistone New Technology Business Investment Fund and Han-Bo Shim.
March 13, 2018
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Yeonwoo & Company Co., Ltd. and Martin Jay Co., Ltd. signed a contract to acquire 9.3% stake in IntroMedic Co., Ltd. (KOSDAQ:A150840) from Synergy-Metistone New Technology Business Investment Fund and Han-Bo Shim for KRW 10.2 billion on February 8, 2018. Under the terms of the transaction, Han-Bo Shim and Synergy-Metistone New Technology Business Investment Fund will sell 0.33 million shares respectively. Yeonwoo & Company Co., Ltd. and Martin Jay Co., Ltd. will acquire 0.27 million shares and 0.4 million shares respectively. As a part of consideration, deposit of KRW 1 billion will be paid on February 8, 2018 and remaining KRW 9.2 billion will be paid on March 8, 2018. Parties shall either escrow or deposit the balance on the corporate account designated by the contracting parties 15 days prior to the shareholders' meeting date. As of March 9, 2018, the payment terms were amended. Under the new terms the deposit of KRW 1 billion will be paid on February 8, 2018, KRW 4.59 billion will be paid on March 8, 2018 and the balance of KRW 4.59 billion will paid on March 14, 2018. Out of total shares, 0.33 million shares will be acquired on March 8, 2018 and remaining 0.33 million shares on March 14, 2018. Post transfer, Yeonwoo & Company Co., Ltd. will become a largest shareholder. The transaction is expected to be completed on March 23, 2018. As of March 9, 2018, the expected closing date has been changed to March 14, 2018.
Yeonwoo & Company Co., Ltd. and Martin Jay Co., Ltd. completed the acquisition of 9.3% stake in IntroMedic Co., Ltd. (KOSDAQ:A150840) from Synergy-Metistone New Technology Business Investment Fund and Han-Bo Shim on March 14, 2018.
IntroMedic Co., Ltd. is a Korea-based company mainly engaged in the development, manufacture and distribution of medical equipment. The Companyâs products consist of capsule endoscope, which is used for small intestine check under the brand name MiroCam; disposable endoscope, which is used to detect abnormalities of the esophagus and the stomach under the brand name E.G. Scan, and other accessories, such as abdominal disposable data belts and others. The Company distributes its products within domestic market and to overseas markets.
Yeonwoo & Company Co., Ltd. and Martin Jay Co., Ltd. completed the acquisition of 9.3% stake in IntroMedic Co., Ltd. from Synergy-Metistone New Technology Business Investment Fund and Han-Bo Shim.