JT Corporation completed the acquisition of the remaining stake in Cng Materials Co., Ltd.
May 15, 2015 at 09:30 am IST
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JT Corporation (KOSDAQ:A089790) agreed to acquire the remaining stake in Cng Materials Co., Ltd. in stock on March 12, 2015. The merger ratio is 1 is to 0.5666932. JT Corporation entered into contract to acquire the remaining stake in Cng Materials Co., Ltd. in stock on March 13, 2015. Cng Materials had total assets of KRW 7.23 billion, total stockholders' equity of KRW 470 million, sales of KRW 2.3 billion and net loss of KRW 670 million in 2014. The Board of Directors' approval is expected on April 13, 2015. A resolution was passed by the Board of Directors of JT and Cng on March 12, 2015. The record date for shareholders of JT Corporation meeting for transaction approval is March 26, 2015. Shareholders of JT Corporation and Cng Materials approved the transaction on April 13, 2015. The submission period of objections from creditors is from April 14, 2015 to May 14, 2015. Merger date is May 15, 2015 while scheduled merger registration date is May 20, 2015.
JT Corporation (KOSDAQ:A089790) completed the acquisition of the remaining stake in Cng Materials Co., Ltd. on May 15, 2015.
JT Corporation is a Korea-based company mainly engaged in the manufacture and distribution of semiconductor testing equipment. The Companyâs products portfolio consists of semiconductor systems, including burn-in sorters, solid state drive (SSD) test handlers, simple handlers, semiconductor vision inspection systems and others; light-emitting diode (LED) systems, such as LED probers and LED sorters; display drive integrated circuit (DDI), including DDI vision inspection systems and DDI pick and place handlers, as well as organic light-emitting diode (OLED) testing equipment, laser pattern equipment, multilayer laminator equipment and other equipment components. In addition, it provides conversion kits and parts. The Company distributes its products within domestic market and to overseas markets.
JT CORPORATION 
