Lee In-woo, River Stone Co., Ltd. and H Investment entered into a contract to acquire 50.08% stake in Hansol CNP Co., Ltd. (KOSDAQ:A221610) from Hansol Chemical Co., Ltd. (KOSE:A014680) for KRW 24 billion on January 22, 2020. As a part of the transaction, 2 million shares of Hansol CNP Co., Ltd are being acquired, out of which Lee In-woo will acquire 0.95 million shares representing 23.79% stake. In relation to the disposal amount, the down payment received was KRW 2.4 billion. The remaining balance of KRW 21.6 billion will be paid on the date of the closing of the transaction after the transfer of the escrow account agreed with the buyer 5 business days before the closing date. As of March 13, 2020, the payment schedule for consideration was changed. The balance payment of KRW 21.6 billion will be made 2 business days before the regular general meeting of shareholders on March 18, 2020. The transaction was resolved by board of Hansol CNP. The regular shareholder meeting will take place and the transaction is expected to be completed by March 20, 2020. As of March 13, 2020, completion is scheduled to take place on March 18, 2020.