SM Co., Ltd. cancelled the acquisition of gang form business segment from S-FORM Co., Ltd..
October 12, 2017
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SM Co., Ltd. signed an agreement to acquire gang form business segment from S-FORM Co., Ltd. (KOSDAQ:A018310) for KRW 3.6 billion on August 10, 2017. Under the terms of the transaction, SM Co., Ltd. will pay KRW 1 billion on the agreement signing date and remaining amount at closing. The consideration is subject to adjustment with the change in net asset value within 30 days from closing. For the year ended December 31, 2016, gang form business segment reported sales of KRW 25.2 billion. The transaction is subject to submission of fair trade commission report. S-FORM Co., Ltd. will hold a general meeting on September 22, 2017 to decide on the transaction. On September 22, 2017, shareholders’ of S-FORM Co., Ltd. approved the transaction. Board of directors of S-FORM Co., Ltd. resolved the transaction. The transaction is expected to be completed on October 1, 2017. The proceeds will be used for repayment of borrowings and operating funds.
SM Co., Ltd. cancelled the acquisition of gang form business segment from S-FORM Co., Ltd. (KOSDAQ:A018310) on October 13, 2017. The Board of Directors rescinded the business transfer agreement by resolution.
SAMMOK S-FORM CO.,LTD. is a Korea-based company mainly engaged in the manufacture of construction molds. The Companyâs products portfolio consists of aluminum formworks such as aluminum wall and slab decks, high-tech forms, aluminum supports and aluminum girder beams; gang forms used for external wall mold and equipment for plastering and decorating works; special formworks used for bridges and civil engineering formworks, caisson block system formworks and special system formworks, Euro forms, as well as climbing systems such as auto climbing systems, portable climbing systems and others. The Company distributes its products within domestic market and to overseas markets.
SAMMOK S-FORM CO.,LTD 
