Park OO, Kim OO, Kim OO and OO cancelled the acquisition of 6.8% stake in Hyunjin Materials co., Ltd. from IntroMedic Co., Ltd..
December 05, 2019
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Park OO, Kim OO, Kim OO and OO entered into an agreement to acquire 6.8% stake in Hyunjin Materials co., Ltd. (KOSDAQ:A053660) from IntroMedic Co., Ltd. (KOSDAQ:A150840) for KRW 5.9 billion on November 19, 2019. Under the terms, Park OO, Kim OO, Kim OO and OO will acquire 0.60 million share each for KRW 1.48 billion each. IntroMedic will transfer 2.41 million share of Hyunjin Materials for KRW 2,450 per share. The first down payment of KRW 400 million will be done on November 19, 2019, the medium plating of KRW 2.56 billion will be paid on November 27, 2019 and the balance of KRW 2.96 billion will be paid on December 6, 2019. As of November 27, 2019, KRW 4 billion was paid on November 19, 2019 and remaining balance will be paid on December 6, 2019. Post completion, IntroMedic will no longer hold any stake in Hyunjin Materials. The new largest shareholder of Hyunjin Materials will be The E & M. The transaction is expected to close on December 6, 2019.
Park OO, Kim OO, Kim OO and OO cancelled the acquisition of 6.8% stake in Hyunjin Materials co., Ltd. (KOSDAQ:A053660) from IntroMedic Co., Ltd. (KOSDAQ:A150840) on December 6, 2019. Since Park OO, Kim OO, Kim OO and OO could not pay the balance purchase price, the transaction was cancelled.
IntroMedic Co., Ltd. is a Korea-based company mainly engaged in the development, manufacture and distribution of medical equipment. The Companyâs products consist of capsule endoscope, which is used for small intestine check under the brand name MiroCam; disposable endoscope, which is used to detect abnormalities of the esophagus and the stomach under the brand name E.G. Scan, and other accessories, such as abdominal disposable data belts and others. The Company distributes its products within domestic market and to overseas markets.
INTROMEDIC CO., LTD. 
