Samkee Automotive Co., Ltd. (KOSE:A122350) signed merger agreement to acquire ECOMISSION for KRW 1.8 billion on December 16, 2013. The merger ratio between Samkee and ECOMISSION is 1:20 and Samkee will issue 0.24 million shares as purchase consideration. As announced on December 31, 2013, Samkee Automotive Co., Ltd. (KOSE:A122350) agreed to acquire ECOMISSION for approximately KRW 760 million. The deal terms were revised, the new merger ratio with Samkee and ECOMISSION is 1:16 and Samkee will instead issue 0.11 million shares. As announced on January 10, 2014, Samkee Automotive Co., Ltd. (KOSE:A122350) agreed to acquire ECOMISSION for approximately KRW 300 million. The deal terms were again revised, the new merger ratio with Samkee and ECOMISSION is 1:14 and Samkee will instead issue 0.04 million shares. Eco Mission Co., Ltd. reported total assets of KRW 89.38 billion, total liabilities of KRW 68.28 billion and total stockholders' equity of KRW 21.09 billion. The general meeting of shareholders for merger approval is expected to take place on January 15, 2014. The transaction was approved by Board of Directors of Samkee Automotive Co., Ltd. As on January 15, 2014, the shareholder's approval of Samkee Automotive was also obtained. The transaction is expected to close on February 17, 2014.

Samkee Automotive Co., Ltd. (KOSE:A122350) completed the acquisition of ECOMISSION on February 17, 2014.