KPM TECH Co., Ltd. (KOSDAQ:A042040) signed a contract to acquire 25.9% stake in Abion Inc. (XKON:A203400) from a group of sellers for KRW 13.5 billion on August 30, 2017. As per terms, 2.7 million shares will be acquired at KRW 5000 per share. The consideration comprises issuance of unguaranteed private convertible bonds. Abion Inc.'s 2.7 million shares will be deposited to the securities account in the name of the convertible bond issuer. KPM TECH Co., Ltd. pledges to acquire all of the new shares to be issued and post completion and will hold 3.65 million shares representing 35.07% stake of Abion Inc. As per terms, after the contract is concluded, the board of directors will be changed by the person appointed by the assignee. The Board of Directors of KPM TECH Co., Ltd. resolved the deal on August 30, 2017 and the deal is expected to close on August 30, 2017. Gaul Accounting Corp acted as valuation agent in the transaction.

KPM TECH Co., Ltd. (KOSDAQ:A042040) completed the acquisition of 25.9% stake in Abion Inc. (XKON:A203400) from a group of sellers on August 30, 2017.