PIMS Inc. (KOSDAQ:A347770) agreed to acquire 49% stake in PIMS Frame Inc. on July 27, 2022. The board resolution date is July 27, 2022 and agreement date is July 28, 2022. The merger ratio is 1:0.3617384.

PIMS Frame has reported total assets of KRW 4465.862401 million, revenue of KRW 7012.073979 million, total shareholderÆs equity of KRW 2828.222457 million and net income of KRW 1830.251517 million on December 31, 2021. The board of PIMS approved the deal. Shareholder who owns 20/100 or more of the total number of issued stocks of the surviving company pursuant to Article 527-3 (4) of the Commercial Act notifies his/her intention to oppose the merger in writing within two weeks from the date of the announcement of the merger, a small The merger cannot proceed with this merger.

The transaction is expected to complete on September 30, 2022. Transaction completion date as been postponed to October 4, 2022.