Magic Micro Co.,Ltd. signed an agreement to acquire Magic LED Co.,Ltd. from Kil-Koo Han and other shareholders on February 26, 2015. The merger ratio will be 25.856232:1. Magic Micro Co.,Ltd. will issue total of 0.52 million new shares from merger. In case that there are fractional shares below 1 unit after the allotment of new shares, the evaluated amount (KRW 9,877) per 1 share will be paid in cash to the holders of the fractional shares. Magic LED Co.,Ltd. had total assets of KRW 15.4 billion and owner's equity of KRW 11.4 billion as of December 3, 2014. The Board of Directors of Magic Micro Co.,Ltd. has resolved for the deal. A general shareholders' meeting of Magic Micro Co.,Ltd. and Mgic LED for merger approval will be held on March 31, 2015. The deal is expected to close on May 1, 2015. E-Chon Accounting Corporation acted as valuer in the deal.

Magic Micro Co.,Ltd. cancelled the acquisition of Magic LED Co.,Ltd. from Kil-Koo Han and other shareholders on March 31, 2015. The 1st agenda, merger case with Magic LED Co.,Ltd., was rejected in the extraordinary meeting of shareholders of Magic Micro on March 31, 2015. Magic Micro cancelled the merger contract by notifying the merger cancellation regarding the merger contract counterpart Magic LED Co.,Ltd. through resolution of Board of Directors opened right after the extraordinary meeting of shareholders.