The One Group entered into a contract to acquire 13% stake in Coinone Inc. from GAMEVIL Inc. (KOSDAQ:A063080) for KRW 31.2 billion on April 19, 2021. The buyer will pay the consideration in cash. In this contract, GAMEVIL Inc. may transfer all or part of the status under the contract, rights and obligations to its affiliates.

Coinone Inc. reported total assets of KRW 180.17 billion and net assets of KRW 22.54 billion as at December 31, 2020. Coinone Inc. reported sales of KRW 33.12 billion and net income of KRW 6.69 billion in 2020. The Board of Directors of GAMEVIL Inc. passed a resolution for the transaction on April 19, 2021.

The transaction is expected to be completed by June 11, 2021. Transaction is Expected date of transfer to January 4, 2022.