TERRASEM Co., Ltd. (KOSDAQ:A182690) signed a stock transfer agreement to acquire 27.03% stake in E&Company Co., Ltd. from Gaonnuri Co. Ltd. for approximately KRW 27 billion on December 11, 2020. As per terms, TERRASEM Co., Ltd. shall acquire 13.5 million shares of E&Company Co., Ltd. The consideration shall be paid in cash and convertible bond of which a deposit balance of KRW 10.03 billion is deposited from February 5, 2020 to the date of the conclusion of this contract as per due diligence contract of which KRW 9.93 billion is converted into down payment, and the difference of KRW 101.6 million is paid in cash on the date of signing of contract. The unpaid amount of KRW 17 billion is offset by issuing convertible bonds (4 billion won for the 10th round and 13 billion won for the 11th round). The transaction was expected to complete on December 29, 2020. Young & Jin Accounting Firm acted as an external evaluator.