Delio Co., Ltd., Sh Investment, MDG Holdings Co., Ltd. and Young-hwan Yang signed a contract to acquire a 40.66% stake in ISE Commerce Company Limited (KOSDAQ:A069920) from ISE Network Co., Ltd., Han Young Science Co. Ltd., Saman Trading Co., Ltd. and others for KRW 64.5 billion on July 14, 2022. Under the terms, KRW 6,142.9 per share is being paid to acquire total of 10.5 million shares. A down payment of KRW 6.45 billion is made on July 14, 2022 and the balance of KRW 58.05 billion to be paid on August 5, 2022. As part of the transaction, Delio Co., Ltd. will pay KRW 7000 per share whereas Sh Investment, Yang Young-hwan and MDG Holdings will pay KRW 5000 per share. As of October 27, 2022, Delio Co., Ltd., Sh Investment, MDG Holdings Co., Ltd. and Young-hwan Yang entered into succession contract for transfer of all rights and obligations under this contract to SID Corporation, One Class Fund 1, Royal Lloyd Fund 1, Scolpion Fund 1, Sky Sun Fund 1, Hurricane Fund 2. As of November 9, 2022, SID Corporation has entered into succession contract to transfer the buyer status to Cellfie Global Co.,Ltd. As of December 12, 2022, the position of Celfie Global Co., Ltd. was partially succeeded to the Ocean New Wave New Technology Association No. 1, and the assignee The status of one class 1, Royal Lloyd 1, Sky sun 1, MDG Holdings, and Yang Young-hwan was jointly transferred to Asclepios 1, Lloyd Partners Investment 1, and Pista 1. As of January 12, 2023, the contract has been terminated with Asclepios 1, Lloyd Partners Investment 1, and Pista 1 due to non payment of balance amount. The revised offer per share is KRW 6481.5 and only 8.1 million shares will be acquired.

Post completion, ISE Network will hold 22.08% stake, Han Young Science will hold 1.12%, Saman Trading will hold 0.34%, Kim, Eung-sang will hold 0.31%, Kim, Eung-jin will hold 0.17%, Kim, Hee-won will hold 0.15%, Kim, In-cheol, will hold 0.04%, Kim, Eung-ju will hold 0.04% and Lee, Kwang-seop will hold 0.01% stake whereas MDG Holdings will own 0.4 million shares, Delio Co., Ltd. will own 6 million shares, Young-hwan Yang 0.9 million shares, and Sh Investment will own 3.2 million shares. As of December 12 ,2022, Post completion, ISE Network will hold 10.22% stake, Han Young Science will hold 2.29%, Saman Trading will hold 0.69%, whereas Ocean New Wave New Technology Association No. 1 will own 5.85 million shares representing 22.68% stake.

As per the update on September 22, 2022, the 22nd general meeting of shareholders is scheduled to be held on October 19, 2022. The transaction is expected to complete on August 26, 2022. As per the update on September 23, 2022, transaction is expected to complete on September 28, 2022. As of October 17, 2022, Transaction is expected to close on October 26, 2022. As of October 27, 2022, Transaction is expected to close on November 21, 2022. As of November 21, 2022, the transaction is expected to close on November 25, 2022. As of November 25, 2022, the transaction is expected to close on December 2, 2022. As of December 2, 2022, transaction is expected to close on December 9, 2022. As of December 9, 2022, the transaction is expected to close on December 16, 2022. As of December 12, 2022, Transaction is expected to close on January 11, 2023. As of January 12, 2023, transaction is expected to close on January 26, 2023. As of January 19, 2023, the transaction is expected to close on February 2, 2023. As of February 2, 2023, the transaction is expected to close on February 10, 2023.