L P.N Co., Ltd., Daon Private Fund 1, Daon Private Fund 2, J&J Holdings Co., Ltd. and Daon Private Fund 3 cancelled the acquisition of 37% stake in Jeong Moon Information. Co., Ltd from JMT Co.,Ltd., Kwanghoon Jung, Hyesook Jung, Doyeon Jung and Sooyeon Jun.
March 25, 2020
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L P.N Co., Ltd., Daon Private Fund 1, Daon Private Fund 2, J&J Holdings Co., Ltd. and Daon Private Fund 3 agreed to acquire 37% stake in Jeong Moon Information. Co., Ltd (KOSDAQ:A033050) from JMT Co.,Ltd. (KOSDAQ:A094970), Kwanghoon Jung, Hyesook Jung, Doyeon Jung and Sooyeon Jung for approximately KRW 23.5 billion on February 19, 2020. As part of the transaction, L P.N Co., Ltd., Daon Private Fund 1, Daon Private Fund 2, J&J Holdings Co., Ltd. and Daon Private Fund 3 will acquire 12 million shares of Jeong Moon Information. Co., Ltd. L P.N Co., Ltd., will own 9.2% stake in Jeong Moon Information. Co., Ltd. Under the terms of the transaction, JMT Co.,Ltd., Kwanghoon Jung, Hyesook Jung, Doyeon Jung and Sooyeon Jung will sell 17.14%,13.46%, 5.3%, 0.56% and 0.51% stake respectively. Under the term, J&J Holdings will acquire 1.84 million shares of Jeong Moon Information for KRW 1,951 per share. A payment of KRW 2.4 billion has been done and the balance payment of KRW 21.1 billion will be paid at closing. The transaction is expected to close on March 26, 2020.
L P.N Co., Ltd., Daon Private Fund 1, Daon Private Fund 2, J&J Holdings Co., Ltd. and Daon Private Fund 3 cancelled the acquisition of 37% stake in Jeong Moon Information. Co., Ltd (KOSDAQ:A033050) from JMT Co.,Ltd. (KOSDAQ:A094970), Kwanghoon Jung, Hyesook Jung, Doyeon Jung and Sooyeon Jung on March 26, 2020. The transaction was cancelled due to failure of contract by the buyer.
JEONGMOON INFORMATION CO., LTD. is a Korea-based company mainly engaged in the manufacture of light emitting diode (LED) modules. Through its subsidiaries, the Company mainly engaged in the manufacture of LED modules, printed circuit boards (PCBs) and others. The Company also engages in the provision of recording mediums, such as authorized replicator (AR) business-based compact discs (CDs) and digital video disks (DVDs), Microsoft operating systems (OSs), Windows embedded products, among others.
L P.N Co., Ltd., Daon Private Fund 1, Daon Private Fund 2, J&J Holdings Co., Ltd. and Daon Private Fund 3 cancelled the acquisition of 37% stake in Jeong Moon Information. Co., Ltd from JMT Co.,Ltd., Kwanghoon Jung, Hyesook Jung, Doyeon Jung and Sooyeon Jun.
JEONG MOON INFORMATION. CO., LTD 
