Hyun-soo Kim and Kil-young Kim cancelled the acquisition of 6.32% stake in SI Resources Co.,Ltd. from KP Co., Ltd..
October 05, 2012 at 09:30 am IST
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Hyun-soo Kim and Kil-young Kim signed a contract to acquire 6.32% stake in SI Resources Co.,Ltd. (KOSE:A065420) from KP Co., Ltd. (KOSE:A009810), Onnuri World CO., Ltd. and other investor for KRW 6.4 billion on September 25, 2012. The offer price is KRW 1696 per share. KP Co., Ltd. will sell approximately 3.8 million shares to Hyun-soo Kim and Kil-young Kim, The transaction was resolved by the Board of Directors of KP Co on September 25, 2012. The transaction is expected to complete on October 4, 2012. Sangrok Accounting Corporation acted as accountant to KP Co., Ltd.
Hyun-soo Kim and Kil-young Kim cancelled the acquisition of 6.32% stake in SI Resources Co.,Ltd. (KOSE:A065420) from KP Co., Ltd. (KOSE:A009810) on October 5, 2012. The buyers failed to pay the balance purchase price on October 4, 2012.
SI RESOURCES CO., LTD. is a Korea-based company mainly engaged in the soft coal business. The Company operates in two business segments: soft coal segment and fabric segment. Its soft coal segment engages in the development, manufacture and marketing of soft coals, which are used for thermal power generation. Its fabric segment engages in the manufacture of jacquard fabrics, which are used for jackets, blouses, skirts, underwear and other apparels. The Company distributes its products within domestic market and to overseas markets, including Turkey, Europe, the Middle East, Central and South America, North America and others.