Erwin Investment Association 1 signed a contract to acquire 32.3% stake in Sincetimes Co., Ltd. (KOSDAQ:A056000) from Sincetimes HK Science Company Limited for KRW 27.4 billion on October 19, 2019. Under the terms of the deal, 4.6 million shares will be transferred. The payment will be made in two installments, KRW 2.7 billion on October 21, 2019 and the remaining balance of KRW 24.7 million on the planned change date of December 10, 2019. As of December 6, 2019 update, the second installment is payable by December 26, 2019 or earlier (date of temporary shareholders' turn). Erwin Investment Cooperative No. 1 will self-fund the transaction by an amount of KRW 27 billion. The transaction was expected to close on December 10, 2019, as per the update on December 6, 2019, the deal is postponed.