Keystone Angels 1st Investment SPC Limited signed a contract to acquire 51% stake in S&P World Ltd. (KOSDAQ:A263920) from Donggeol Jeon, Youngsik Byun, Eunho Kim and Sungyeol Cho for KRW 34.1 billion on November 1, 2018. The offer per share is KRW 8,500. Donggeol, Youngsik, Eunho and Sungyeol will sell 1.4 million shares, 0.873 million shares, 0.873 million shares and 0.865 million shares representing 17.82%, 11.09%, 11.09% and 10.99 stake respectively. Donggeol Jeon held approximately 2 million shares (24.91%) and post completion will own 0.6 million shares, Youngsik Byun held 1.2 million shares (15.51%) and post completion will own 0.35 million shares, Eunho Kim held 1.2 million shares (15.51%) and post completion will own 0.35 million shares and Sungyeol Cho held 1.2 million shares (15.37%) and post completion will own 0.34 million shares of S&P World Ltd. At the same time as the contract is signed, in order to guarantee the fulfillment of the contract, the amount equivalent to 10% of the deal value, i.e. KRW 3.4 billion shall be paid to the bank account of the representative of Donggeol Jeon, Youngsik Byun, Eunho Kim and Sungyeol Cho, payable immediately in cash. At the same time as the contract is signed, as the payment of the down payment, 40% of the preliminary deal value will be transferred to the bank account of the representative of Donggeol Jeon, Youngsik Byun, Eunho Kim and Sungyeol Cho, payable immediately in cash. For the balance payment, each payment shall be made in such a manner as to remit to the bank account of each Donggeol Jeon, Youngsik Byun, Eunho Kim and Sungyeol Cho notified by each of them, payable immediately in cash on the extraordinary shareholders' meeting which is to be held on December 17, 2018. According to the contract, 2.4 million shares will be transferred on December 20, 2018 and 1.596 shares locked up will be transferred the day the lock up is over. As per the amendment to the payment schedule of balance amount, each payment shall be made in such a manner as to remit to the bank account of each seller notified by each seller, with cash settlement immediately payable on the extraordinary shareholders' meeting scheduled on December 20, 2018. However, KRW 3.5 billion of the balance will be paid to the sellers, and the amount corresponding to the lock up (KRW 13.6 billion) will be pledged on December 20, 2018 and paid on the date of transfer of the locked up share ownership which is on September 27, 2020. Donggeol Jeon resigned as a Chief Executive Officer and Jongguk Lee was appointed as a Chief Executive Officer of S&P World Ltd. along with Jongguk Lee and Song Byungryun as Internal Directors, Kisang Jang as Non-Executive Director and Yongjun Shin as External Director. The scheduled change date is December 17, 2018. As of November 12, 2018, the extraordinary shareholders' meeting will be held on December 20, 2018. On December 20, 2018, Keystone Angels No. completed the acquisition of 30.73% stake in S&P World wherein 2.4 million shares were transferred. As of September 28, 2020, Donggeol Jeon transferred 0.81 million shares to Keystone Angels 1st Investment. As a result of the transfer, Donggeol Jeon now owns 0.56 million shares of Blossom. As of September 28, 2020, Eunho Kim transferred 0.26 million shares to Keystone Angels 1st Investment. As a result of the transfer, Eunho Kim now owns 0.35 million shares of Blossom. As of September 28, 2020, Youngsik Byun transferred 0.26 million shares to Keystone Angels 1st Investment. As a result of the transfer, Youngsik Byun now owns 0.35 million shares of Blossom.