KMH Co., Ltd. completed the acquisition of 3.8% stake in Mgenplus Co., Ltd. from Yong-Hyun Shin.
July 16, 2015 at 12:00 am EDT
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KMH Co., Ltd. entered into contract to acquire 3.8% stake in Mgenplus Co., Ltd. (KOSDAQ:A032790) from Yong-Hyun Shin for KRW 4.5 billion on July 2, 2015. KMH Co., Ltd. will acquire 0.3 million shares at the price of KRW 15,149 per share. KMH Co., Ltd. will pay KRW 3 billion until July 9, 2015. KMH Co., Ltd. will pay the balance of KRW 1.5 billion after KMH Co., Ltd.'s designated director and auditor gets appointed and registered through general meeting of stockholders. In a related transaction there would be capital increase in Mgenplus Co., Ltd. The scheduled change date is July 9, 2015.
KMH Co., Ltd. cancelled the acquisition of 3.8% stake in Mgenplus Co., Ltd. (KOSDAQ:A032790) from Yong-Hyun Shin on July 16, 2015.
Mgen Solutions Co Ltd, formerly BNGT Co Ltd, is a Korea-based company engaged in the manufacture and sale of printer cartridge parts. The Company operates its business through five segments. The Developing Machine Business segment is engaged in the manufacture and sale of printer cartridge parts. The Broadband Convergence Network (BcN)/Artificial Intelligence (AI) Business segment is engaged in the operation and build of broadband self-communication network. The Segment is also engaged in the provision of artificial intelligence image analysis solutions. The Communication Network Business segment is engaged in the provision of information technology services related to smart homes and the Internet of Things (IoT). The Bio Business segment is engaged in the development of organs for transplantation. The Other Business segment is engaged in the sale of medical devices.
MGEN SOLUTIONS CO., LTD. 
