Synerworks Co., Ltd., Renewable Energy Strategy Fund, Alternative Investment Association and Hemon Investment Association signed the contract to acquire 21.8% stake in Hansongneotech Co.,Ltd. from Nam-shin Hyung and Young- Seok Yoon for KRW 18.8 billion.
October 14, 2020
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Synerworks Co., Ltd., Renewable Energy Strategy Fund, Alternative Investment Association and Hemon Investment Association signed the contract to acquire 26.6% stake in Hansongneotech Co.,Ltd. (KOSDAQ:A226440) from Nam-shin Hyung, Young-muk Choi, Young- Seok Yoon for KRW 23 billion on October 15, 2020. Under the term, the seller will transfer 11.9 million shares of Hansongneotech. On November 30, 2020, the contract was revised. under the new term the buyer will acquire 9.77 million shares of Hansongneotech representing 21.8% stake from Nam-shin Hyung and Young- Seok Yoon for KRW 18.8 billion. The consideration involves a down payment of KRW 2.3 billion paid on October 15, 2020 and balance of KRW 20.7 billion to be paid on November 30, 2020. As of November 26, 2020, the consideration paid down payment of KRW 2.3 billion on October 15, 2020, KRW 11.7 billion paid on November 26, 2020 and the balance of KRW 8.9 billion will be paid on November 30, 2020. As of per the revise contract the balance payment of KRW 5.25 billion will be paid on November 30, 2020. The scheduled date of transfer is November 30, 2020.
HANSONGNEOTECH CO.,LTD., formerly Dongbu 3rd Special Purpose Acquisition Co., Ltd., is a Korea-based company principally engaged in the manufacture and sale of equipment which is used for flat panel display (FPD) manufacturing. The Companyâs products profile consists of fine metal mask (FMM) tension machines, support tension machines, laser trimmers, manual repair devices, mask inspection quality control (IQC) devices and pixel positioning accuracy (PPA) inspection machines, among others. These products mainly used for plasma display panels (PDPs), liquid crystal displays (LCDs), active matrix organic light emitting diodes (AMOLEDs) and others. In addition, the Company provides ultrasonic cleaners those are applied to FPD. It distributes its products within domestic market and to overseas markets.
Synerworks Co., Ltd., Renewable Energy Strategy Fund, Alternative Investment Association and Hemon Investment Association signed the contract to acquire 21.8% stake in Hansongneotech Co.,Ltd. from Nam-shin Hyung and Young- Seok Yoon for KRW 18.8 billion.