TR Investment signed a contract to acquire 24.56% stake in NeoFidelity, Inc from Duk-Soo Lee and Anine Corporation for KRW 10.5 billion.

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.