Telomere Co., Ltd and an unknown buyer signed a contract to acquire a 20.84% stake in Kyung Nam Pharm Co., Ltd. (KOSDAQ:A053950) from Hui Cheol Lee for KRW 25 billion on January 10, 2018. Under the terms, Hui Cheol Lee will sell 2.34 million shares at a price of KRW 10,665 per share. As consideration, the buyers will pay KRW 2.5 billion on the contract signing date as deposit and pay KRW 14 billion after deciding on appointing 3 people the buyer designates on February 23, 2018 from the extraordinary general meeting and receive 1.55 million shares. The buyers will pay KRW 8.5 billion and receive 0.8 million shares when the legal provisional seizure is lifted on those shares. Post completion, Hui Cheol Lee will cease to hold any stake in Kyung Nam Pharm Co., Ltd. On January 10, 2018, KRW 2.5 billion was paid. As of January 30, 2018, Telomere Co., Ltd acquired 1 million shares. The initial payment was paid through own funds. Eversolution Co., Ltd will acquire 1.4 million shares in Kyung Nam Pharm Co., Ltd. in place of the unknown buyer. As on January 30, 2018, Eversolution Co., Ltd. acquired 1.3 million shares and amended the contract date to January 30, 2018 from March 16, 2018. Eversolution Co., Ltd. funded the acquisition from its own funds of KRW 14.3 billion. As of March 6, 2018, the transaction is expected to close on March 27, 2018. As of March 16, 2018, Eversolution Co., Ltd. paid KRW 7 billion out of the total amount of KRW 14 billion. The transfer of the shares will take place after the rest of the balance has been paid on the date of the general meeting of shareholders of Kyung Nam Pharm Co., Ltd., being March 30, 2018. The transaction is expected to close on March 30, 2018.