Contents And People, Logistics Energy company,.LTD (KOSE:A006490) agree to acquire 12.48% stake in Space Net Co., Ltd. from Kim, Jin-Soo for KRW 3.1 billion in cash on May 11, 2015. A stock acquisition/sales contract will be signed. Contents And People, Logistics Energy will acquire 0.05 million shares. Out of the total consideration, deposit of KRW 1.5 billion will be paid on the stock contract signing date, and the remaining balance will be paid on May 14, 2015 together with transfer of the target shares. During the year ended December 31, 2014, Space Net Co., Ltd. had total assets of KRW 6.64 billion, total stockholders' equity of KRW 2.09 billion, sales revenue of KRW 15.58 billion, and net profit of KRW 1.22 billion. Board of Directors of Contents And People, Logistics Energy made a resolution in favor of the transaction on May 11, 2015. The scheduled acquisition has been changed from May 11, 2015 to May 14, 2015. Anse Accounting Corporation acted as external evaluator in the transaction. Contents And People, Logistics Energy company,.LTD (KOSE:A006490) cancelled the acquisition of 12.48% stake in Space Net Co., Ltd. from Kim, Jin-Soo on May 11, 2016.