Codes Combine Co.,Ltd. cancelled the sale of innerwear business.
August 21, 2015 at 12:00 am EDT
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Codes Combine Co.,Ltd. (KOSDAQ:A047770) signed an agreement to sell innerwear business for KRW 25 billion on August 21, 2014. Codes Combine Co.,Ltd. will transfer entire trademark being used both in Korea and internationally with regards to the innerwear business, entire ownership inventories owned by Codes Combine regarding the innerwear business, management rights and contract regarding distribution shops owned by Codes Combine regarding the innerwear business, and entire rights with regards to the employment contract of all the employees engaged in the innerwear business. The Board of Directors of Codes Combine Co.,Ltd. made a resolution in favor of the transaction on August 21, 2014. The expected record date for a business acquisition/sales general meeting of stockholders is September 5, 2014. The expected general meeting of stockholders for the business acquisition/sales date is October 6, 2014. As on October 6, 2014, transaction was approved by the shareholders of Codes Combine Co.,Ltd. The business acquisition/sales date is expected to be October 7, 2014.
Codes Combine Co.,Ltd. (KOSDAQ:A047770) cancelled the sale of innerwear business on August 21, 2015.
Codes Combine Co., Ltd. is a Korea-based company principally engaged in the women apparel business. The Companyâs products portfolio includes jeans, outdoor clothes, casual clothes, accessories, women suits and childrenâs wears. The Company's apparel brands consist of codes combine, which is character casual apparel for men and women; basic+ by codes combine, which is casual apparel for men and women; codes combine jeans, which is designed for men and women in their early-twenties to mid-twenties; C_Code, which is brand of formal dress for women, and codes combine kids, which is designed for children. The Company distributes its products through department stores, direct management stores as well as online shopping.