RadTek Co., Ltd. completed the acquisition of 89.33% stake in USChina Taiwan Inc. from Ching-Sang Hong.
As a part of agreement, Ching-Sang Hong agreed to resign from his positions of Chairman, President, Chief Executive Officer and Chief Financial Officer at the closing, and agreed to resign from his position as a Director of USChina Taiwan effective immediately upon the termination of the ten day waiting period under Rule 14f-1. JaeChan Kim, President of Radtek will become Chairman, President, Chief Executive Officer Chief Financial Officer and Director of USChina Taiwan. The agreement will be terminated unilaterally by Andrew Chien if balance of purchase price is not paid in full on or before December 28, 2012 or RadTek has failed to comply with all material terms of agreement. Harold H. Martin of Martin & Pritchett, P.A. acted as legal advisor for RadTek Co., Ltd.
RadTek Co., Ltd. completed the acquisition of 89.33% stake in USChina Taiwan Inc. from Andrew Chien on December 31, 2012.