Seohan Const. & Eng. Co., Ltd. agreed to acquire 2-1, Dong-gu, Daegu-si, Daegu Shinseo, South Korea from Korea Land & Housing Corp. for KRW 22.7 billion.

Seohan Const. & Eng. Co., Ltd. (KOSE:A011370) agreed to acquire 2-1, Dong-gu, Daegu-si, Daegu Shinseo, South Korea from Korea Land & Housing Corp.

for KRW 22.7 billion on November 12, 2012. A deposit of KRW 2.3 billion is to be paid on November 17, 2012, first installment of KRW 3.4 billion is to be paid on March 17, 2013, second installment of KRW 3.4 billion is to be paid on September 17, 2013, third installment of KRW 3.4 billion is to be paid on March 17, 2014, fourth installment of KRW 3.4 billion is to be paid on September 17, 2014, fifth installment of KRW 3.4 billion is to be paid on March 17, 2015 while the sixth installment of KRW 3.4 billion is to be paid on September 17, 2015. The transaction was resolved by the Board of Directors of Seohan Const.

& Eng. Co on November 12, 2012. The scheduled signing date of the contract is November 17, 2012.

The scheduled acquisition date is September 17, 2015.