High Vision Co., Ltd. entered into a sale and purchase agreement to acquire Frame Pictures Co., Ltd. from Spackman Entertainment Group Limited (Catalist:40E) for KRW 450 million on December 23, 2021. As per the transaction, High Vision Co., Ltd. will acquire 10,000 common voting shares in Frame Pictures Co., Ltd. representing 100% stake. The consideration will be paid in two tranches, 80% in cash upon satisfaction of the conditions precedent and 20% in cash after High Vision Co., Ltd. gives notice to Spackman Entertainment Group Limited of completion of examinations on the camera leasing equipment owned by Frame Pictures. The transaction is subject to consummation of due diligence, regulatory approval, shareholder’s and board of director’s approval of High Vision Co., Ltd. and Spackman Entertainment Group Limited. Spackman Entertainment Group Limited intends to utilize 50% of the Net Proceeds for investment projects and the other 50% for working capital.