43 investors completed the acquisition of 41% stake in Gamma Nu Inc. from Sang- Gi Kim.
July 24, 2017
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39 investors signed a contract to acquire 41% stake in Gamma Nu Inc. (KOSDAQ:A192410) from Sang- Gi Kim for KRW 29.1 billion on June 11, 2017. Under the terms of the transaction, 1.5 million shares will be acquired. As per terms, a deposit of KRW 2.9 billion will be paid on June 11, 2017 and the remaining balance of KRW 26.2 billion will be deposited into the escrow account agreed by both the investors and Sang- Gi Kim, balance escrow date will be in 2 business days before extraordinary shareholders' meeting. SMV Co., Ltd. will acquire 0.076 million shares representing 2.11% stake. A total of 0.47 million shares representing 13.28% stake will be retained by Sang- Gi Kim. After the conclusion of the contract, Gamma Nu Inc. will hold the extraordinary shareholders' meeting and the person appointed by the assignee will be appointed as the Director and the auditor. On June 11, 2017, the deal is partially completed as K&Y Association Co., Ltd. acquired 0.4 million shares in Gamma Nu Inc. at KRW 19,660 per share. On June 11, 2017, WSD Holdings Co., Ltd. and SMV Co., Ltd. acquired 0.4 million shares and 0.08 million shares. On June 20, 2017, as an unknown buyer also acquired 0.4 million shares in Gamma Nu Inc. The transaction is expected to be completed on August 1, 2017. As of July 25, 2017, it was announced that the deal will see participation from 43 buyers including WSD Holdings Co., Ltd. The balance escrow date and balance payment date is July 25, 2017. The transaction is now expected to be closed on July 25, 2017. Upon completion, WSD Holdings will hold 8.54% stake and Sang-Gi Kim will hold 8.51% stake.
43 investors completed the acquisition of 41% stake in Gamma Nu Inc. (KOSDAQ:A192410) from Sang- Gi Kim on July 25, 2017.
Hyulim Networks Co Ltd, formerly The HQ Co Ltd, is a Korea-based company principally engaged in the manufacture and sale of antennas. The Company operates its business through two segments. The Antenna Business segment researches, develops, manufactures and sells base station antennas that provide communication services by sending and receiving wireless signals from mobile communication repeaters and base station systems to portable multimedia terminals. The Inbound Platform Business segment provides services such as designing inbound platform, signing a customer contract with duty-free shops, negotiating customer fees, financing and support, tax support, product introduction data, and tourist information sharing, among others.
HYULIM NETWORKS CO., LTD. 
