GameHi Co.,Ltd. agreed to acquire Nex Toric Co., Ltd. from Nexon Korea Corporation, Young-Koo Kim, Jae-Min Park, Kwang-Jin Kim, Byung-Joon Min and other shareholders for approximately KRW 9 billion.
For the year ended December 31, 2012, NexToric reported total assets of KRW 10.5 billion, total liabilities of KRW 3.1 billion, sales revenue of KRW 13.5 billion, net profit of KRW 3.4 billion and total stockholders' equity of KRW 7.5 billion. The Board of Directors of GameHi passed resolution as on September 26, 2013. GameHi's Board of Directors' meeting for the merger approval is scheduled on December 30, 2013. The transaction is subject to approval by shareholders of Nextoric. Merger closing report Board of Directors is scheduled for February 3, 2014. Merger is expected to take place on February 1, 2014, scheduled delivery date of new share certificates is February 24, 2014, scheduled date of merger registration is February 6, 2014 and scheduled listing date is February 25, 2014.