Echoprime Private Equity Co., Ltd signed a contract to acquire 13.31% stake in Yongsin Environment Development Co.,Ltd from Korea Environment Technology Co., LTD. (KOSDAQ:A029960) for KRW 12.6 billion on January 25, 2019. Under the terms, Echoprime Private Equity will acquire 0.18 million shares of Yongsin Environment Development., the consideration will be paid in cash. Echoprime Private Equity paid KRW 1 billion as deposit on January 25, 2019 and the remaining balance will be paid on March 15, 2019 or a date before that. The sum of KRW 10.04 billion and Yongsin Environment Development cash assets will be paid on March 15, 2019 or a date before and the deposit of KRW 1 billion will be returned to the Echoprime Private Equity. As per the amendment report dated March 15, 2019, Echoprime Private Equity Co., Ltd. will acquire 13.31% stake in Yongsin Environment Development Co.,Ltd from Korea Environment Technology Co., LTD. for KRW 13 billion. A deposit of KRW 1 billion will be made on contract signing date, on March 15, 2019 or a date before that, which is discussed between the parties KRW 10 billion will be paid and the deposit of KRW 1 billion will be returned to Echoprime Private Equity Co., Ltd. The transaction has been resolved by the Board of Directors of Korea Environment Technology at the meeting held on January 25, 2019. The transaction is expected to be completed by March 15, 2019. Echoprime Private Equity Co., Ltd. cancelled the acquisition of 13.31% stake in Yongsin Environment Development Co.,Ltd from Korea Environment Technology Co., LTD. (KOSDAQ:A029960) on January 25, 2020.