Neptune Company Ltd. agreed to acquire 51.46% stake in O'ol Blue Inc from Joymax Co., Ltd. (KOSDAQ:A101730) and 5 others for KRW 3.1 billion on August 31, 2016. As per the terms of the deal, 10% of the acquisition amount will be paid as deposit on September 1, 2016, 40% of the acquisition amount will be paid on September 30, 2016 and the balance 50% of the acquisition amount will be paid on November 30, 2016 or third business date from Neptune Company's listing date on KOSDAQ, whichever comes first. O'ol Blue Inc had total assets of KRW 35.9 billion and revenue of KRW 10 billion for the financial year ending December 31, 2015.

The agreement signing date is expected to be September 1, 2016.