Redrover Co.,Ltd. (KOSDAQ:A060300) concluded a sales contract to acquire 27.5% stake in mstoryhub Co., Ltd. from its shareholders for KRW 2.8 billion on May 11, 2020. As reported, Redrover Co.,Ltd. will acquire 2,750 stocks in mstoryhub Co. The acquisition will be paid as part of the eleventh convertible bonds with deposit being paid on May 11, 2020, interim payment being paid on May 18, 2020 and final payment deadline on June 30, 2020. At the end of 2019, mstoryhub Co reported total assets of KRW 1,483 million, total capital of KRW 959 million and net income of KRW 447 million. The Board of Directors of Redrover Co.,Ltd passed the resolution on the transaction on May 11, 2020. The scheduled acquisition date is June 30, 2020.