Elk Corporation cancelled the acquisition of 10.23% stake of SMAC Co.,Ltd. from Sung-Chul Lee and Jong-Ha Kim.
October 15, 2015
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Elk Corporation (KOSDAQ:A094190) signed an agreement to acquire 10.23% stake of SMAC Co.,Ltd. (KOSDAQ:A097780) from Sung-Chul Lee and Jong-Ha Kim for KRW 11.6 billion on August 13, 2015. Under the terms of the transaction, Elk Corporation will acquire 1.32 million shares of SMAC Co from Sung-Chul Lee and 0.5 million shares from Jong-Ha Kim. An amount of KRW 1.2 billion will be paid on August 19, 2015 and the balance of KRW 10.5 billion will be paid on October 21, 2015. The Board of Directors of Elk Corporation resolved the deal on August 13, 2015.
Elk Corporation (KOSDAQ:A094190) completed the acquisition of 10.23% stake of SMAC Co.,Ltd. (KOSDAQ:A097780) from Sung-Chul Lee and Jong-Ha Kim on August 20, 2015.
Elk Corporation (KOSDAQ:A094190) cancelled the acquisition of 10.23% stake of SMAC Co.,Ltd. (KOSDAQ:A097780) from Sung-Chul Lee and Jong-Ha Kim on October 16, 2015. The deal was cancelled upon the request of SMAC Co.,Ltd. SMAC Co.,Ltd. requested for cancellation of the contract and Elk Corporation accepted the request, thereby agreed upon the cancellation of the contract.
Eco Volt Co Ltd, formerly S-MAC Co Ltd, is a Korea-based company engaged in the manufacture of mobile phone modules. The Company operates its business through six segments. Manufacturing and Sales of Antistatic Products and Plastic Films segment is engaged in the manufacture and sale of antistatic products and plastic films. Manufacture and Sales of Automotive Light Bulbs and Electric Devices segment engages in the manufacture and sale of automotive light bulbs and electric devices. Manufacturing and Sales of Touch Screen Modules segment is engaged in the manufacturing and sale of touch screen modules. New Technology Finance Business segment engages in the new technology finance business. Research, Development, and Technology Transfer of Diagnostic Raw Material Antibodies and Diagnostic Kits segment engages in the Research, development, and technology transfer of diagnostic raw material antibodies and others. Pharmaceutical Wholesalers segment engages in the Pharmaceutical business.
ECO VOLT CO.,LTD. 
