Daeduck Co.,Ltd. completed the acquisition of an additional 10.5% stake in WiSoL CO.,LTD. from Ji Ho Kim.
July 24, 2020
Share
Daeduck GDS Co.,Ltd. (KOSE:A004130) entered into a contract to acquire an additional 10.5% stake in WiSoL CO.,LTD. (KOSDAQ:A122990) from Ji Ho Kim for KRW 45.4 billion on July 11, 2017. Daeduck GDS Co.,Ltd. paid KRW 33.57 billion on July 11, 2017 and will pay the remaining balance of KRW 11.86 billion on July 11, 2020. 1.74 million shares will be transferred on the first payment and 0.61 million shares will be transferred on the payment of the balance amount. Daeduck GDS Co.,Ltd. will fund the transaction through own funds. Myong-Whan Jo, Kyung-Su Byun and Hyeong-Kyu Im will resign as the Directors of WiSoL CO.,LTD. after the transaction. As of July 11, 2017, Ji Ho Kim transferred 1.74 million shares. Ji Ho Kim now holds 0.61 million shares amounting to 2.72% stake and Daeduck GDS Co.,Ltd. holds 3.3 million shares amounting to 14.74% stake. Ernst & Young, Korea acted as accountant advisor for Daeduck GDS Co.,Ltd. Ernst & Young Services (uk) Ltdacted a s financial advisor to Daeduck GDS Co.,Ltd.
Daeduck Co.,Ltd. (KOSE:A008060) completed the acquisition of an additional 10.5% stake in WiSoL CO.,LTD. (KOSDAQ:A122990) from Ji Ho Kim as of July 24, 2020. As on July 24, 2020, the second payment date is changed from July 11, 2020 to July 24, 2020 and remaining 608,438 shares were transferred as part of this transaction.
WiSoL Co Ltd is a Korea-based company engaged in the manufacture and sale of electronic parts. The Company principally manufactures radio frequency (RF) solution products used in cellular phones. The Company provides surface acoustic wave (SAW) filters, duplexers, wafer chips, as well as module products, among others. It also provides RF modules used for smart televisions (TVs). The Company provides its products under the brand name of Wisol. The Company distributes its products within domestic market and to overseas markets.