Korea Bond Investment Co., Ltd., NeuroNK Co., Ltd., Dohoon Kim, Seung-seop Lee, Seung-eun Lee, Lee Go-eun, Hosu Company, Mi-ryeong, Kim Mihye, Kim Seunghee, Lee Joo-Yong Choi, Key and 13 others signed the contract to acquire an additional 13.98% stake in ACT Co., Ltd. (KOSDAQ:A131400) from Semicon Light Co., Ltd. (KOSDAQ:A214310) for KRW 16 billion on December 15, 2020.

As per terms of contract, Korea Bond Investment Co., Ltd. will acquire 0.2 million shares, NeuroNK Co., Ltd. will acquire 0.4 million shares, Dohoon Kim will acquire 0.10 million shares, Seung-seop Lee 0.will acquire 60 million shares, Seung-eun Lee will acquire 0.10 million shares, Lee Go-eun will acquire 0.10 million shares, Hosu Company will acquire 0.20 million shares, Mi-ryeong Kim will acquire 0.22 million shares, Mihye Kim will acquire 0.32 million shares, Seunghee Lee will acquire 0.20 million shares, Joo-Yong Choi will acquire 0.16 million shares, Key will acquire 0.10 million shares. at KRW 5000 for each share.

Consideration of KRW 800 million will be paid on signing of contract and remaining KRW 15.2 billion will be paid on or before December 28, 2020. As on March 25, 2021, KRW 15.2 billion will be paid on April 26, 2021. As on April 26, 2021, KRW 15.2 billion will be paid on May 7, 2021. As of May 7, 2021, the balance of KRW 15.2 billion shall be paid on June 8, 2021. As of May 17, 2021, KRW 1.9 billion will be paid on May 17, 2021 and KRW 13.3 billion will be paid on June 8, 2021. As of July 21, 2021, TJ Holdings 0.5 million shares , balance of KRW 2.5 billion deposit completed. After the transaction, Meridian Holdings Co., Ltd will hold 2.1 million shares amounting to 8.96% stake in ACT Co., Ltd.

Post completion, Semicon Light Co., Ltd. will hold 1.1% stake in ACT Co., Ltd. As per an update, Semicon will not hold shares in ACT Co., Ltd. post completion. As per update on June 29, 2021, VARC Co.,Ltd and 8 others will acquire the shares. The Board of Directors passed a resolution for the transaction on December 15, 2020. From the date of signing this contract to July 29, 2021, Korea Bond Investment Co., Ltd., NeuroNK Co., Ltd., Do-Hoon Kim, TJ Holdings, Seung-Seop Lee, Seung-Eun Lee, Go-Eun Lee, Hosu Company Co., Ltd. 8 people or more closed the transaction by paying KRW 10.45 billion. As per update July 21, 2021, From the date of signing this contract to July 29, 2021, Korea Bond Investment Co., Ltd., NeuroNK Co., Ltd., Do-Hoon Kim, TJ Holdings, Seung-Seop Lee, Seung-Eun Lee, Go-Eun Lee, Hosu Company Co., Ltd. 7 people or more closed the transaction by paying KRW 8.075 billion.

Transaction is expected to complete on December 28, 2020. As of December 28, 2020, the transaction is expected to be completed by January 12, 2021. As of January 12, 2021, the transaction is expected to be completed by January 28, 2021. As of January 28, 2021, the transaction is expected to close on February 25, 2021. As of February 25, 2021, the transaction is expected to close by March 25, 2021. As on March 25, 2021, transaction is expected to complete on April 26, 2021. As of April 26, 2021, the transaction is expected to complete on May 7, 2021.

As of May 7, 2021, the transaction is expected to complete on June 8, 2021. As of May 17, 2021, 0.4 million shares have been transferred and 2.8 million shares will be transferred by June 8, 2021. As of June 8, 2021, transaction is expected to close on June 29, 2021. As of June 29, 2021, Of the remaining 2.8 million shares on June 29, 2021, which is the second contract date, 0.6 million shares were sold to Key and 4 others. Accordingly, the number of remaining shares is 2.2 million shares. As of June 29, 2021, transaction is expected to complete on July 29, 2021.