Pandora TV Co., Ltd. agreed to acquire Hana Must Third Special Purpose Acquisition Company (KOSDAQ:A208870) from KDB Daewoo Securities Co. Ltd., Investment Arm and other sellers in a reverse merger transaction on March 2, 2015. Merger ratio for the acquisition is 1:1.3803237 and a total of 14.88 million new shares of Hana Must Third Special Purpose Acquisition Company will be issued for the merger.

Hana Must Third Special Purpose Acquisition Company will survive and PANDORA TV will be dissolved after the merger. Hana Must Third Special Purpose Acquisition Company, will continue the business operations of Pandora TV Co., Ltd., and its name will be changed to Pandora TV Co., Ltd. Board of Directors made a resolution in favor of transaction on March 2, 2015. The expected date of shareholders meeting is June 12, 2015.

The expected merger effective date is July 16, 2015. As of June 1, 2015, the expected date of shareholders meeting is July 17, 2015. The transaction is expected to complete on August 21, 2015 and the Scheduled listing date of shares is September 4, 2015.

As of July 2, 2015, the meeting of shareholders will be held on August 28, 2015. The creditors can submit their objections from August 31, 2015 to October 1, 2015. The scheduled listing date is October 19, 2015.

The transaction is expected to complete on October 2, 2015. Pandora TV Co., Ltd. signed an external evaluating contract for the merger price with Nexia-Samduk on January 5, 2015, and the evaluation period is from January 21, 2015 to February 28, 2015. As of August 13, 2015, the meeting of shareholders will be held on September 17, 2015 and the scheduled completion will be on October 20, 2015.

Also, the scheduled listing will take place on November 5, 2015. As of August 31, 2015, the meeting of shareholders will be held on October 12, 2015 and the scheduled completion will be on November 16, 2015. Also, the scheduled listing will take place on November 30, 2015.