Jiran Security Co.,Ltd. signed a contract to acquire KB No.5 Special Purpose Acquisition Company (KOSDAQ:A208350) in a reverse merger transaction on March 14, 2016. The merger ratio is 1 : 11.6776283 between KB No.5 Special Purpose Acquisition and Jiran Security. 27.25 million new shares will be issued for the merger. KB No.5 Special Purpose Acquisition will survive and Jiran Security will be dissolved after the merger. The Board of Directors of KB No.5 Special Purpose Acquisition passed a resolution for the transaction on March 14, 2016. The creditors can submit their objections from July 8, 2016 to August 8, 2016. The merger will have an effective date of August 9, 2016 and will have registered date of August 11, 2016. The new shares will be listed on August 25, 2016. As of June 15, 2016, the scheduled date of General meeting of shareholders was revised to July 26, 2016, the period for opposition by creditors revised to July 27, 2016 - August 29, 2016, expected closing date amended to August 30, 2016 and date for listing of new shares to September 9, 2016. As on July 26, 2016, the shareholders of KB No.5 Special Purpose Acquisition Company approved the deal. As of July 26, 2016, KB No.5 Special Purpose Acquisition Company will change its name to Jiransecurity Co.,Ltd. Samhwa Accounting Corporation acted as the external rating institution. Jiran Security Co.,Ltd. completed the acquisition of KB No.5 Special Purpose Acquisition Company (KOSDAQ:A208350) in a reverse merger transaction on September 1, 2016. KB No.5 Special Purpose Acquisition Company will be renamed as JS.