Media Kobo Korea Co., Ltd., Kyung-Deok Kim and Gwang-Young Kim, The Rich Association No. 1 and MK Investment Association completed the acquisition of 31.74% stake in CNPLUS Co., Ltd. from Mu-Kun Han, Young-Ran Seo, Ho-Joon Han and COCN Co., Ltd.
November 26, 2015
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Media Kobo Korea Co., Ltd., The Rich Association No. 1 and MK Investment Association signed a contract to acquire 31.74% stake in CNPLUS Co., Ltd. (KOSDAQ:A115530) from Mu-Kun Han, Young-Ran Seo, Ho-Joon Han and COCN Co., Ltd. for KRW 13.7 billion on October 12, 2015. Media Kobo Korea Co., Ltd., The Rich Association No. 1 and MK Investment Association will acquire 1.47 million shares of CNPLUS Co., Ltd. As per the terms of the deal, Han, Mu-Kun, Seo, Young-Ran, Han, Ho-Joon and COCN Co., Ltd. will sell 1.01 million shares, 0.1 million shares, 0.017 million shares, 0.017 million shares, 0.33 million shares respectively and their management rights to Media Kobo Korea Co., Ltd., MK Investment Association and The Rich Association No. 1. The transaction is expected to complete on November 24, 2015. As of November 17, 2015, Kyung-Deok Kim and Gwang-Young Kim are the new buyers in the transaction. Media Kobo Korea Co., Ltd., MK Investment Association, and The Rich Association No. 1, Kim, Kyung-Deok, and Kim, Gwang-Young will acquire 0.54 million shares, 0.4 million shares, 0.43 million shares, 0.05 million shares and 0.05 million shares. As of November 24, 2015, the expected date of change is amended to November 26, 2015. As of November 26, 2015, Media Kobo Korea Co., Ltd. completed the acquisition of shares in CNPLUS Co., Ltd.
Media Kobo Korea Co., Ltd., Kyung-Deok Kim and Gwang-Young Kim, The Rich Association No. 1 and MK Investment Association completed the acquisition of 31.74% stake in CNPLUS Co., Ltd. (KOSDAQ:A115530) from Mu-Kun Han, Young-Ran Seo, Ho-Joon Han and COCN Co., Ltd. on November 26, 2015.
CNPLUS Co., Ltd. is a Korea-based company mainly engaged in the manufacture of connectors. The Company manufactured electrical network and connect devices. It produces high precision connectors, such as top, bottom and double-sided contact connectors, micro fine pitch connectors, and pin connectors used for television modules, liquid crystal displays (LCDs), plasma display panels (PDPs), optical disk drives (ODDs) and others. The Companyâs main clients are Samsung SDI, Samsung Electronics, LG Innotek, HITACHI, Nidec, CHANGHONG, Sony Optiarc and others. The Company distributes its products within domestic market and to overseas markets. On December 26, 2012, the Company sold certain shares of a subsidiary, a Korea-based investment company. After the transaction, it held 40% stake of the Korea-based company.
Media Kobo Korea Co., Ltd., Kyung-Deok Kim and Gwang-Young Kim, The Rich Association No. 1 and MK Investment Association completed the acquisition of 31.74% stake in CNPLUS Co., Ltd. from Mu-Kun Han, Young-Ran Seo, Ho-Joon Han and COCN Co., Ltd.