Cellumed Co., Ltd. (KOSDAQ:A049180) and Shim Young-Bok agreed to acquire 3.55% stake in Mgenplus Co., Ltd. (KOSDAQ:A032790) from Yong-Hyun Shin for KRW 5 billion in cash on August 18, 2015. Cellumed will acquire 0.21 million shares for KRW 3.5 billion and Shim Young-Bok will acquire 0.09 million shares for KRW 1.5 billion. Cellumed paid the deposit of KRW 3 billion on August 18, 2015 and will pay the remaining balance of KRW 500 million on October 1, 2015.

Shim Young-Bok will pay the balance of KRW 1.5 billion on October 1, 2015. In a related transaction, Cellumed Co., Ltd will purchase 0.7 million new shares of Mgenplus through capital increase. The board of Cellumed passed a resolution for the transaction on August 18, 2015.

The transaction is expected to close on October 1, 2015.