Yu Cheng Kuo agreed to acquire an additional 72% stake in Megaluck Company Limited from New Silkroad Culturaltainment Limited (SEHK:472) for KRW 5 billion on June 11, 2024. A cash consideration of KRW 500 million will be paid by the buyer. The buyer will pay an earnout/contingent payment of KRW 4.5 billion cash. As part of consideration, KRW 5 billion is paid towards common equity of Megaluck Company Limited.

As of April 30, 2024, Megaluck Company Limited reported net liabilities of KRW 10.41 billion (HKD 58.8 million). New Silkroad Culturaltainment Limited intends to use the net proceeds to strengthen the cashflow and general working capital of the Group.

Vincorn Consulting and Appraisal Limited acted as Independent valuer, and CCTH CPA Limited acted as accountant for New Silkroad Culturaltainment Limited.