Diviner Holdings Co.,Ltd. signed a contract to acquire 17.9% stake in Korea Green Paper Manufacturing Co., Ltd. (KOSE:A109070) from Kukil Paper Mfg. Co.,Ltd. (KOSDAQ:A078130) for KRW 13.3 billion on July 28, 2015. Under the terms of the transaction, Kuk-Il Paper will sell 6.7 million shares for KRW 2000 each and post transaction will own 6.5 million shares in Korea Green Paper Manufacturing.

Under the terms of consideration, KRW 2 billion was paid at the signing of the contract and KRW 11.3 billion will be paid at Korea Green Paper Manufacturing Co., Ltd. extraordinary shareholders' meetings date. The expected transaction settlement date is September 9, 2015. As on August 5, 2015, the expected closing date was amended to September 23, 2015.

As on September 23, 2015, the expected closing date was amended to September 30, 2015. As on September 30, 2015, the expected closing date was amended to October 22, 2015. Han Seo Accounting Corporation was the valuation company for Kukil Paper Mfg.

Co.,Ltd.