Dream Security co., Ltd. cancelled the acquisition of 54.69% stake in Korea Rental Corporation from IS DongSeo Co., Ltd..
July 14, 2020
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Dream Security co., Ltd. (KOSDAQ:A203650) entered into a memorandum of association to acquire 54.69% stake in Korea Rental Corporation from IS DongSeo Co., Ltd. (KOSE:A010780) for KRW 75.7 billion on July 15, 2019. On August 29, 2019, second memorandum of understanding was signed. As per terms, IS DongSeo shall sell 1.89 million shares. The final transaction is to be concluded or otherwise agreed by the parties by October 31, 2019, which may be extended within two months. The terms and conditions of the transaction shall be established in the final transaction contract(s) to be concluded. The consideration may be changed at the time of final transaction. IS DongSeo Co., Ltd. Board resolved the transaction on July 15, 2019. As of August 29, 2019, the transaction was resolved by the board of directors of IS DongSeo. As of November 22, 2019, the transaction was further resolved by the board of directors of IS DongSeo. The transaction is expected to close on November 28, 2019.
Dream Security co., Ltd. (KOSDAQ:A203650) cancelled the acquisition of 54.69% stake in Korea Rental Corporation from IS DongSeo Co., Ltd. (KOSE:A010780) on July 15, 2020.
Dream Security Co., Ltd., formerly Shinhan 2nd Special Purpose Acquisition Co., LTD., is a Korea-based company principally engaged in the information protection business. The Company provides solutions and system integration (SI) services including public key infrastructure (PKI) authentication, wired security, wireless security, electronic document security and others to government agencies, public institutions, financial institutions, and general companies. The Company is also involved in the operating and security equipment business.
DREAM SECURITY CO., LTD. 
