AJ Networks Co., Ltd. (KOSE:A095570) entered into a stock acquisition/sales contract to acquire 77.55% stake in Linkable Inc. from AJ Rent A Car Co., Ltd. (KOSE:A068400) for KRW 14.7 billion on January 2, 2019. The consideration shall be paid in cash. As per the terms, AJ Networks shall acquire 0.01 million shares of Linkable Inc. for KRW 1 million per share.

The board of directors of AJ Networks resolved the transaction on January 2, 2019. The transaction closing is scheduled on January 3, 2019.