Unknown buyers signed a contract to acquire 60.18% stake of Candle Media Co., Ltd. from Open Innovation Fund managed by Benex Investment, Fytec Focus Investment Union 2, Fytec Sector Investment Union 4 and The Contents Company Inc. for KRW 39.5 billion on July 5, 2016. Under the terms of transaction, 37.11 million shares of Candle Media will be acquired at KRW 1064 per share. Under the terms of payment schedule, KRW 7.9 billion will be paid as deposit of which KRW 4.42 billion won will be covered with the original deposit and additional payment for deposit of KRW 3.48 billion will be paid on the contract signing date. Balance of KRW 31.6 billion will be kept in the escrow account designated after the negotiation between the seller and the buyer on a business day prior the extraordinary meeting of shareholders, and the amount will be withdrawn after the selection of company’s officer by the buyer at the extraordinary meeting of shareholders. Stocks will be transferred as soon as the balance amount is requested to be withdrawn from the escrow account. The transaction is expected to close on September 5, 2016. Unknown buyers completed the acquisition of 60.18% stake of Candle Media Co., Ltd. from Open Innovation Fund managed by Benex Investment, Fytec Focus Investment Union 2, Fytec Sector Investment Union 4 and The Contents Company Inc. on September 5, 2016. The deal was financed through own funds.