NEPES AMC (KOSDAQ:A087730) entered into memorandum of understanding to acquire remaining 22% stake in NMT Co., Ltd. (Korea) for KRW 7.5 billion on June 17, 2019. As of July 25, 2019, NEPES AMC entered into a contract to acquire remaining 22% stake in NMT Co., Ltd. (Korea) for KRW 7 billion. The payment of KRW 4 billion will be made in cash and remaining KRW 3 billion will be paid through NEPES AMC 6th convertible bonds issuance. Under the terms, NEPES AMC will acquire 0.04 million shares of NMT Co., Ltd. (Korea). Post acquisition, NEPES AMC will hold 100% stake in NEPES AMC. For the year ended December 2018, NMT Co., Ltd. (Korea) reported total assets of KRW 7.8 billion, sales of KRW 6.5 billion and net profit of KRW 880 million. The transaction was resolved by the board of NEPES AMC. The transaction is expected to close on July 1, 2019.