Isvill Co., Ltd. cancelled the acquisition of 4.04% stake in Woosu AMS Co., Ltd. from Jong-In Jun, Sung-Ok Jun, Byung-In Jun and Sung-hyun Jun.
August 20, 2018
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Isvill Co., Ltd. signed a contract to acquire 4.04% stake in Woosu AMS Co., Ltd. (KOSDAQ:A066590) from Jong-In Jun, Sung-Ok Jun, Byung-In Jun and Sung-hyun Jun for KRW 5.1 billion on May 9, 2018. Under the terms, Isvill Co., Ltd. will acquire 1 million shares at KRW 5,050 per share. A deposit was paid on May 9, 2018 and balance payment will be paid seven days before the extraordinary shareholders' meeting date. In a related transaction, Arstartech Co., Ltd. signed a contract to acquire 12.1% stake in Woosu AMS Co., Ltd. from Jong-In Jun, Sung-Ok Jun, Byung-In Jun and Sung-hyun Jun for KRW 15.2 billion on May 9, 2018. Prior to the transactions, Jong-In Jun held 4.94 million shares amounting to 20% stake, Sung-Ok Jun held 0.99 million shares amounting to 4% stake, Byung-In Jun held 0.37 million shares amounting to 1.5% stake and Sung-hyun Jun held 0.28 million shares amounting to 1.13% stake in Woosu AMS Co., Ltd. After the transactions, Jong-In Jun will hold 2.09 million shares amounting to 8.46% stake, Sung-Ok Jun will hold 0.49 million shares amounting to 1.97% stake, Byung-In Jun and Sung-hyun Jun will hold no stake in Woosu AMS Co., Ltd. As on May 10, 2018, a meeting of shareholders will be held on July 17, 2018. As per the amendment report dated July 9, 2018, a meeting of shareholders will be held on September 14, 2018. The transaction is now expected to be completed by September 6, 2018, which was earlier expected to be completed by July 9, 2018.
Isvill Co., Ltd. cancelled the acquisition of 4.04% stake in Woosu AMS Co., Ltd. (KOSDAQ:A066590) from Jong-In Jun, Sung-Ok Jun, Byung-In Jun and Sung-hyun Jun on August 21, 2018.
WOOSU AMS CO.,LTD. is a Korea-based company engaged in the manufacture of automobile parts. The Company produces two categories of products: engine parts, including power steering pumps, air compressor assemblies, drive pump assemblies, intake manifolds, adaptor water outlets, cap camshafts, rocker arm shafts assemblies, valve guides and others, and transmission parts, including intermediate plate assemblies, differential case assemblies, transmission cases, clutch housings, control shaft completes, rail shift assemblies, fork shifts, main shafts, parking system sub parts and others. The Company distributes its products within domestic market and to overseas markets.