Two unknown buyers signed a contract to acquire 16.89% stake in Kahee Co., Ltd. from Se-Ho Kyong and others for KRW 3.7 billion.
July 12, 2015
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Two unknown buyers signed a contract to acquire 16.89% stake in Kahee Co., Ltd. (KOSDAQ:A030270) from Se-Ho Kyong and others for KRW 3.7 billion on July 13, 2015. In a related transaction, Jr Partners Co.,Ltd signed a contract to acquire 33.78% stake in Kahee Co., Ltd. (KOSDAQ:A030270) from Se-Ho Kyong and others for KRW 7.3 billion. Under the terms of the transaction, Jr Partners Co.,Ltd and two unknown buyers will acquire 0.6 million shares at the price of KRW 18333 per share. The buyers will pay total of KRW 5.5 billion which is deposit of KRW 1.1 billion and second payment of KRW 4.4 billion to Se-Ho Kyong and others upon signing of the contract and Se-Ho Kyong and others will transfer 0.24 million shares to Jr Partners Co.,Ltd and two unknown buyers at the same time the payment is received. The buyers will deposit balance of KRW 5.5 billion until 3 days before the extra ordinary shareholders' meeting date of Kahee Co., Ltd. to Law Firm Da Dam and Se-Ho Kyong and others will deposit 0.36 million shares until 3 days before the extra ordinary shareholders' meeting date of Kahee Co., Ltd. to Law Firm Da Dam. Jr Partners Co.,Ltd will acquire 0.4 million shares and will hold 33.77% stake in Kahee after the transaction.
As of August 26, 2015, the agreement has been amended due to addition of buyers. After amendment, TOL Co., Ltd., Kim Choi Jae-Sung, Kim Jung-Hwan, Kim Kook-Jin, Kwon Hye-Young, Park Hye-Kyoung, Jung Seung-Kwon, Kim Duk-Chae, Lee Jin-Oh, Jun Chang-Gyu Kim Eun-Hak and Jae-Hun signed a contract to acquire 16.89% stake in Kahee Co., Ltd. (KOSDAQ:A030270) from Se-Ho Kyong and others.
SMARK CO., LTD, formerly KAHEE CO., LTD is a Korea-based company engaged in the manufacture and distribution of yarns. The Company produces cotton yarns, combed cotton yarns, blended yarns, slub yarns, core yarns and compact yarns for knitting, weaving and industrial uses. It also provides ring combed cotton yarns, ring slub yarns, stretch core spun yarns and others. The Company operates Gaju mills and Sinni mills with open ended spinners, which are also known as air spinnings, as well as ring spinners. The Company distributes its products within domestic market and to overseas markets.
KAHEE CO., LTD. 