Jayjun Cosmetic Co., Ltd. completed the acquisition of 10.42% stake in RFTech Co., Ltd. from Hyuk-Jin Chung.
January 17, 2019
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Jayjun Cosmetic Co., Ltd. (KOSE:A025620) signed a contract to acquire 10.42% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Hyuk-Jin Chung for KRW 19.8 billion on December 5, 2018. Under the terms of the agreement, Jayjun Cosmetic will acquire 1.98 million shares of RFTech at KRW 10,000 per share. Of the total consideration, KRW 1.98 billion will be paid on December 5, 2018 and the remaining will be paid on January 18, 2019. The transaction is expected to complete on January 18, 2019. Seou Accounting Corp. acted as external rating institution.
Jayjun Cosmetic Co., Ltd. (KOSE:A025620) completed the acquisition of 10.42% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Hyuk-Jin Chung on January 18, 2019. As a part of the transaction, Hyeok Jin Jeong, Jungyeon Lee and Yoon lee resigned from Board of Directors and Jin-Hyung Lee, Jaesang Ban, and Junwoo Song were appointed on the Board.
Jayjun Cosmetic Co., Ltd., formerly Jayjun CO., LTD. is a Korea-based company engaged in the manufacture of leather fabrics. The Company provides leather fabrics, which are used for manufacturing of car seats, shoes, hand bags, garments, upholstery goods and other leather goods. The Company distributes its products within domestic market and to overseas markets.
JAYJUN COSMETIC CO., LTD. 
