Gooeul Aging Lab Co., Ltd. cancelled the acquisition of 5.47% stake in Heshbon Co., Ltd. from Man-Cheol Song and 2 other individuals.
January 21, 2015 at 11:00 pm EST
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Gooeul Aging Lab Co., Ltd. agreed to acquire 5.47% stake in Heshbon Co., Ltd. (KOSDAQ:A054300) from Man-Cheol Song and 2 other individuals for KRW 4.6 billion on December 23, 2014. gooeul aging lab will acquire 0.5 million shares of Heshbon Co., Ltd. KRW 1 billion was the contract deposit and balance of KRW 3.6 billion will be paid before extraordinary meeting of shareholders. The contract is valid when gooeul aging lab and 46 other individuals, complete the payment of third party allotment paid-in capital increase signed on December 15, 2014. The management control will be transferred in the extraordinary meeting of shareholders that will be opening on February 6, 2015 through audit appointment.
Gooeul Aging Lab Co., Ltd. cancelled the acquisition of 5.47% stake in Heshbon Co., Ltd. (KOSDAQ:A054300) from Man-Cheol Song and 2 other individuals on January 22, 2015. The transaction was cancelled because gooeul aging lab did not fulfill condition for payment of third party allotment paid-in capital increase.
Panstar Enterprise Co., Ltd., formerly HESHBON.Co. Ltd. is a Korea-based company engaged in the manufacturing of automobile maintenance equipment. The Company's products consist of automotive lifts, including wheel alignment lifts, motorcycle lifts, scissor lifts and others; wheel equipment, including wheel aligners, wheel balancers and tire changers, as well as automatic transmission fluid (ATF) changers, exhaust gas detectors, smoke detectors, engine tune-up machines and auto consumables among others. The Company supplies its products within domestic market and to overseas markets, including France, North and South America, Australia, the Middle East and Japan.