KHAN CO., LTD. entered into a memorandum of understanding to acquire a 50.03% stake in Oriental Precision & Engineering Co., Ltd. (KOSDAQ:A014940) for KRW 30 billion on February 17, 2017. KHAN CO. will acquire 20,272,981 shares at the price of KRW 1,480 per share in the deal. KHAN CO. was chosen as a preferred bidder and will pay a performance bond worth KRW 1.5 billion on February 17, 2017. The definitive contract is expected to be signed within 5 business days from the day the stock sales/acquisition price is confirmed deposit of 10% of the purchase price will be made on contract signing date. The schedule for balance 90% of purchase price is yet to be determined and may be adjusted during the verification survey process. Samjung Public Account Firm provided services in connection with the deal. KHAN CO., LTD. cancelled the proposed acquisition of a 50.03% stake in Oriental Precision & Engineering Co., Ltd. (KOSDAQ:A014940) on May 2, 2017. The final contract was not signed until the contract signing limit date of April 30, 2017 due to their disagreement with the contract terms, leading to cancellation.