Sl Innovations Co., Ltd. and Hanp Inc. (KOSDAQ:A066110) signed a contract to acquire 12.22% stake in Hyunjin Materials Co., Ltd. (KOSDAQ:A053660) from Chang-Kyu Yi for KRW 20 billion on March 2, 2017. Sl Innovations Co., Ltd. and Hanp Inc. will acquire 4.31 million shares at the price of KRW 4,629 per share. Hanp Inc. will acquire 2.59 million shares for KRW 12 billion. Sl Innovations Co., Ltd. and Hanp Inc. will pay KRW 2 billion on signing date and will pay balance KRW 18 billion on extraordinary shareholders' meeting date on May 12, 2017. Board of Directors of Hanp Inc made a resolution in favor of transaction on March 2, 2017. The scheduled change date is May 12, 2017. The scheduled change date is amended to June 5, 2017. Hyorim Accounting Corporation acted as external evaluator for Hanp Inc.

Sl Innovations Co., Ltd. and Hanp Inc. (KOSDAQ:A066110) cancelled the acquisition of 12.22% stake in Hyunjin Materials Co., Ltd. (KOSDAQ:A053660) from Chang-Kyu Yi on May 11, 2017.