Jayjun Cosmetic Co., Ltd. (KOSE:A025620) agreed to acquire an additional 9.3% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Jeong-Un Cha for KRW 23.4 billon on January 18, 2019. Under the terms, 1.8 million shares will be acquired at KRW 13, 000 per share. The consideration involves a down payment of KRW 9.4 billion (40%) which is already done on January 18, 2019 and the balance of KRW 14 billion won (60%) which will be paid on scheduled shareholder's meeting date to be held in March 2019.

Upon completion, Jayjun Cosmetic Co., Ltd.'s stake will increase from 10.3% to 19.6% and Jeong-Un Cha's stake will decrease from 10.3% to 1%. The transaction is expected to complete on March 29, 2019. Jayjun Cosmetic Co., Ltd. used the proceeds of convertible bond issuance of KRW 23.4 billion to fund the transaction.