Jayjun Cosmetic Co., Ltd. completed the acquisition of an additional 9.3% stake in RFTech Co., Ltd. from Jeong-Un Cha.
March 28, 2019
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Jayjun Cosmetic Co., Ltd. (KOSE:A025620) agreed to acquire an additional 9.3% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Jeong-Un Cha for KRW 23.4 billon on January 18, 2019. Under the terms, 1.8 million shares will be acquired at KRW 13, 000 per share. The consideration involves a down payment of KRW 9.4 billion (40%) which is already done on January 18, 2019 and the balance of KRW 14 billion won (60%) which will be paid on scheduled shareholder's meeting date to be held in March 2019. Upon completion, Jayjun Cosmetic Co., Ltd.'s stake will increase from 10.3% to 19.6% and Jeong-Un Cha's stake will decrease from 10.3% to 1%. The transaction is expected to complete on March 29, 2019. Jayjun Cosmetic Co., Ltd. used the proceeds of convertible bond issuance of KRW 23.4 billion to fund the transaction.
Jayjun Cosmetic Co., Ltd. (KOSE:A025620) completed the acquisition of an additional 9.3% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Jeong-Un Cha on March 29, 2019. The balance consideration payment was completed. A resolution on the transaction was passed by the Board of Directors on January 18, 2019.
Jayjun Cosmetic Co Ltd is a Korea-based company principally engaged in the manufacture and sale of cosmetics. The Company operates its business through three segments. The Cosmetic segment is engaged in the manufacture and sale of black water glow masks, intensive shining masks, green tea eye gel patches, roselle tea eye gel patches as well as others. The Entertainment and Advertising segment is engaged in the record and music businesses, performance businesses, management service business as well as advertising agency businesses. The Medical Device segment is engaged in the manufacture and sale of medical devices.
JAYJUN COSMETIC CO., LTD. 
