C&KY Holdings Co., Ltd. agreed to acquire 14.14% stake in HDPRO Co., Ltd. (KOSDAQ:A214870) from KODI CO., LTD (KOSDAQ:A080530) for KRW 10.6 billion on October 10, 2017. C&KY Holdings Co., Ltd. will acquire 0.86 million shares of HDPRO Co., Ltd. from KODI CO., LTD. A deposit of KRW 1.5 billion will be paid on October 11, 2017 upon the signing of contract and balance KRW 9.1 billion will be paid until October 23, 2017. KODI CO., LTD will not hold any shares in HDPRO Co., Ltd. on closing. As per the amendment received on October 23, 2017, a deposit of KRW 1.5 billion will be paid on October 11, 2017, second payment of KRW 3.5 billion paid on October 23, 2017 and the balance amount of KRW 5.6 billion to be paid on October 30, 2017. As of October 23, 2017, approximately 0.26 million shares of HDPRO Co., Ltd. were transferred and remaining 0.59 million shares is to be transferred on October 30, 2017.

Board of Directors of KODI CO., LTD passed resolution with respect to the transaction on October 10, 2017. Scheduled date of the transaction is October 23, 2017. As per the amendment received on October 23, 2017, the transaction is expected to complete on October 30, 2017. Samhwa Accounting Corporation acted as external rating institution in the transaction.

C&KY Holdings Co., Ltd. completed the acquisition of 14.14% stake in HDPRO Co., Ltd. (KOSDAQ:A214870) from KODI CO., LTD (KOSDAQ:A080530) on October 30, 2017. The balance payment was completed on October 11, 2017.