TR Investment completed the acquisition of 24.56% stake in NeoFidelity, Inc from Duk-Soo Lee and Anine Corporation.
August 28, 2014 at 12:00 am EDT
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TR Investment signed a contract to acquire 24.56% stake in NeoFidelity, Inc (KOSDAQ:A101400) from Duk-Soo Lee and Anine Corporation for KRW 10.5 billion on July 1, 2014. TR Investment will acquire 2.03 million shares. TR Investment will pay escrow partial payment of KRW 1 billion within the three business days from the contract signing date. Duk-Soo Lee and Anine Corporation should hold an extraordinary meeting of shareholders with the agenda proposed by the TR Investment, and after all the agendas are approved at the meeting, TR Investment will pay the remaining balance of KRW 9.5 billion. The extraordinary meeting of shareholders will be held before August 31, 2014.
TR Investment completed the acquisition of 24.56% stake in NeoFidelity, Inc (KOSDAQ:A101400) from Duk-Soo Lee and Anine Corporation on August 28, 2014.
N CITRON, INC., formerly NEOFIDELITY, INC. is a Korea-based company engaged in the manufacture and sale of full digital audio amplifier solution products. The Company produces digital audio amplifier chips, including NTP-7XXX series, NTP-3XXX series, NTP-2XXX series and NSP series for flat panel display (FPD) televisions (TVs), desktop audios, monitor TVs, home theaters and other digital products. The Company distributes its products within domestic market and to overseas markets, including Taiwan, Japan and China. The Company has one Hong Kong-based subsidiary, NF Industries Company Limited.