Well to Sea No.3 Investment Purpose Company Co., Ltd. agreed to acquire 58.6% stake in AJU Capital Co., Ltd. (KOSE:A 033660) from AJU Corporation Co., Ltd. for approximately KRW 290 billion on June 27, 2017. Well to Sea No.3 Investment Purpose Company Co., Ltd. signed an agreement on June 28, 2017. AJU Corporation Co., Ltd. will sell 33.7 million shares at KRW 8495 per share and post completion will hold 7.4 million shares.

As per terms, new directors will be appointed through the extraordinary shareholders' meeting to be held at a later date. On August 18, 2017, Seungwon Jung, Namryung Lee, Chunwon Park, Changsoon Lee, Jinkyu Song and Yukyung Kim were approved to be the new Directors of AJU Capital Co., Ltd. The Board of Directors of AJU Corporation passed a resolution for the transaction on June 27, 2017. The Board of Directors of AJU Capital passed a resolution for the transaction on June 28, 2017.

The transaction is expected to complete on July 4, 2017.