Meddox Co., Ltd., Jokwang ILI Co., Ltd. (KOSDAQ:A044060) and Time Investment Co., Ltd. entered into an agreement to acquire 31.6% stake in Daeyu Co., Ltd. (KOSDAQ:A290380) from Kwon Sung-han and Kwon Sung-ho for KRW 46.3 billion on July 17, 2020. As of July 20, 2020, Meddox Co., Ltd., Jokwang ILI Co., Ltd. and Time Investment Co., Ltd. revised the terms to acquire 31.6% stake in Daeyu Co., Ltd. to KRW 46.3 billion on July 20, 2020. Meddox Co., Ltd., Jokwang ILI Co., Ltd. and Time Investment Co., Ltd will acquire 2.86 million shares for KRW 16,095 per share. Meddox Co., Ltd. will acquire 0.35 million shares representing 3.83% stake, Jokwang ILI Co., Ltd. will acquire 2.34 million shares representing 25.85% stake and Time Investment Co., Ltd will acquire 0.17 million shares representing 1.92% stake. Kwon Sung-han is selling 2.56 million shares representing 28.29% stake and Kwon Sung-ho is selling 0.3 million shares representing 3.31% stake. A deposit of KRW 5 billion will be paid on July 17, 2020 and the balance payment of KRW 41.34 billion will be paid 3 business days before the temporary shareholders' meeting. Jokwang ILI will finance the deal from cash available. As of July 17, 2020, Jokwang ILI Co., Ltd. acquired 25.85% stake in Daeyu Co., Ltd. by acquiring 2.34 million shares The transaction is expected to complete on September 4, 2020. As on July 21, 2020, the expected closing date of this deal was changed to August 31, 2020. As on August 31, 2020, the final payment of remaining balance was of KRW 41.34 billion is scheduled to be paid on August 31, 2020.

Meddox Co., Ltd., Jokwang ILI Co., Ltd. (KOSDAQ:A044060) and Time Investment Co., Ltd. completed the acquisition of 31.6% stake in Daeyu Co., Ltd. (KOSDAQ:A290380) from Kwon Sung-han and Kwon Sung-ho on August 31, 2020.