Daily ENM Co., Ltd. Signed a contract to acquire additional 4.1% stake in Digital Optics Co., Ltd. from Debbie Co., Ltd. for KRW 4.5 billion.
December 21, 2020
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Daily ENM Co., Ltd. signed a contract to acquire additional 4.1% stake in Digital Optics Co., Ltd. (KOSDAQ:A106520) from Debbie Co., Ltd. for KRW 4.5 billion on December 22, 2020. Daily ENM Co., Ltd. will acquire 4.24 million shares of Digital Optics Co., Ltd. at KRW 1400 per share. Under the terms of the contract, Daily ENM Co., Ltd. will make a down payment of KRW 600 million at signing of agreement and the balance KRW 5.33 billion will be paid one day before the extraordinary general shareholders meeting scheduled to be held on January 26, 2021. As per the correction document released on January 22, 2021, the consideration for the transaction is KRW 4.5 billion and apart from the down payment of KRW 600 million at signing of agreement and the balance KRW 3.9 billion will be paid one day before the extraordinary general shareholders meeting scheduled to be held on February 15, 2021. The transaction is expected to be completed on January 25, 2021.
Noble M&B Co Ltd, formerly Digital Optics Co Ltd, is a Korea-based company mainly engaged in the manufacture and sale of lens. The Company operates its business through three segments. The Lens Business segment is mainly engaged in the manufacture and sale of camera lenses used for mobile phones, vehicles and projector engines used for subminiatures as well as others. The Distribution Business segment is mainly engaged in the photography income business. The Health Food Business segment is mainly engaged in the production of health functional foods.
NOBLE M&B CO., LTD. 
