Uconsystem Inc. announced a private placement of 2,800,000 common shares at KRW 1,429 per share for gross proceeds of KRW 4,001,200,000 with existing shareholder FIRSTEC Co., Ltd. on June 12, 2014. FIRSTEC Co., Ltd. will retain 100% stake on completion of the transaction. The shares will be issued at premium and face value of KRW 500 per share.

The company will allocate 1.273 new shares for every existing share held. The subscription period will start on June 12, 2014 and end on June 13, 2014. The payment date will be June 13, 2014.

The transaction has been approved by board of directors of the company. The company reported total assets of KRW 8,312,400,909 for the year ended December 2013.