ESA Co., Ltd. (KOSDAQ:A052190) agreed to acquire 28.12% stake in Spackman Media Group Limited from Funvest Global Pte. Ltd., Leong Lai Yee, Daniel Thong Sing-Hau, Zeng Minmin and Chiu Sin Cheun Albert for KRW 17.9 billion on November 26, 2019. The consideration will be paid in cash. Under the terms of the transaction, the down payment of KRW 3 billion was paid on November 28, 2019, KRW 10 billion was paid on December 2, 2019 and the balance amount will be paid on December 31, 2019. As of January 20, 2020, the balance payment of consideration of KRW 4.9 billion will be paid on March 20, 2020. As of March 20, 2020, the balance payment of consideration of KRW 4.9 billion will be paid on March 31, 2020. It was later decided that the balance payment of consideration of KRW 4.9 billion will be paid on April 10, 2020. As of April 10, 2020, the balance payment of consideration of KRW 4.9 billion will be paid on June 25, 2020. As of December 24, 2020, the balance payment of consideration of KRW 4.9 billion will be paid on June 30, 2021. Spackman Media Group Limited had total assets of KRW 24.6 billion, net assets of KRW 13.6 billion, revenues of KRW 26.9 billion and net income of KRW 211 million for the year ended December 31, 2018. The Board of ESA Co., Ltd. resolved transaction on November 26, 2019. As of December 30, 2019, the transaction is expected to close on January 20, 2020. As of January 20, 2020, the transaction is expected to close on March 20, 2020. As of March 20, 2020, the scheduled acquisition date is changed to March 31, 2020. It was later decided that the new scheduled acquisition date is April 10, 2020. As per disclosure of April 10, 2020, the scheduled acquisition date is changed from April 10, 2020 to June 25, 2020. As per disclosure of December 24, 2020, the scheduled acquisition date is changed to June 30, 2021. As per disclosure of July 5, 2021, the scheduled acquisition date is changed to June 30, 2022.