Mobidays, Inc. agreed to acquire 23.3% stake in Villy Inc. from SFC Co.,Ltd. (KOSDAQ:A112240) for KRW 3 billion on February 28, 2019. Under the terms, Mobidays will acquire 1865 shares of Villy. Mobidays will pay KRW 900 million as deposit on February 28, 2019 and will pay KRW 1.1 billion as second payment on April 30, 2019 and will pay the balance of KRW 1 billion on June 30, 2019. As of April 30, 2019, KRW 300 million has been paid. On November 29, 2019, the deal terms revised. Mobidays, Inc. will now acquire the stake for CNY 2.6 billion. Hence on June 30, 2019, Mobidays, Inc. will now pay only KRW 600 million. The transaction has been resolved by the Board of Directors of SFC Co.,Ltd at the meeting held on February 28, 2019. The transaction is expected to be completed by February 28, 2019.

Mobidays, Inc. cancelled the acquisition of 23.3% stake in Villy Inc. from SFC Co.,Ltd. (KOSDAQ:A112240) on February 28, 2020.