Donglim Leisure Development Co., Ltd. agreed to acquire tsis inc. from TK Corp. (KOSE:A023160) and other shareholders in stock on April 10, 2013. The share exchange ratio is 1:2.143189.

tsis reported total assets of KRW 105 billion, total liabilities of KRW 71.9 billion, total stockholders' equity of KRW 33.1 billion, sales revenue of KRW 154.1 billion and net profit of KRW 12.5 billion for the year ended December 31, 2012. The general meeting of shareholders will be held on April 26, 2013, the existing shares submission date is from April 29, 2013 to May 29, 2013, the period of submission of objections from creditors is from April 29, 2013 to May 29, 2013. The Board of Directors of Donglim resolved to undertake the transaction.

The transaction is expected to close on May 31, 2013.