JangWonTech Co., Ltd. (KOSDAQ:A174880), Lora No. 1 Investment Fund, J New Technology Business Fund 1, H World Holdings Co., Ltd., Central Fund and Fox Fund signed a contract to acquire 60% stake in EXT Co.,Ltd. (KOSDAQ:A226360) from Kiyong Song for KRW 55.1 billion on February 22, 2019. A total of 16.2 million shares will be acquired for KRW 3400 per share.

A deposit of KRW 5.5 billion will be paid on contract signing date and the balance will be paid on closing date and the entire shares will be transferred on the same date. JangWonTech Co., Ltd., Lora No. 1 Investment Fund, J New Technology Business Fund 1, H World Holdings Co., Ltd., Central Fund and Fox Fund.

will acquire 5.46 million shares, 3.24 million shares, 1.3 million shares, 1.3 million shares, 2.27 million shares and 2.65 million shares representing 20.2%, 11.97%, 4.81%, 4.81%, 8.41% and 9.8% stake respectively. Stake of Kiyong Song will reduce from 67.58% to 7.58% stake after the deal. Board of JangWonTech Co., Ltd resolved in favor of the deal.

Deal is expected to close on March 20, 2019. DAHAN Accounting Corporation acted as external rating institution.