Lumensoft Ltd. signed a statutory merger agreement to acquire Terraum Co., Ltd. (KOSE:A042510) from Kiwoom Investment Co., Ltd. and others in a reverse merger transaction on February 7, 2012. The merger ratio of Terraum and Lumensoft is 1:12.4025235 and 28.88 million common shares will be issued in the merger. After the merger, Terraum will survive and Lumensoft will be dissolved. The transaction was resolved by the Board of Directors on February 7, 2012. The general shareholders' meeting is scheduled on April 9, 2012. Period of submission of objections from creditors is from April 10, 2012 to May 10, 2012. The effective date of the merger is May 11, 2012. The submission period of existing share certificates is scheduled from April 10, 2012 to May 10, 2012. The scheduled delivery date of new share certificates is June 11, 2012. The scheduled listing date is June 12, 2012.

On February 21, 2012, Terraum Co amended general shareholders' meeting date, period of submission of objections from creditors date, merger effective date, submission period of existing share certificates date, scheduled delivery date of new share certificates, and scheduled listing date. These dates will be decided later.

As of April 4, 2012, the merger ratio of Terraum and Lumensoft is changed to 1:14.5252951 and 33.83 million common shares will be issued in the merger. The general shareholder's meeting will now be held on May 22, 2012. The creditors can submit objections from May 23, 2012 to June 23, 2012. The merger is expected to be effective on June 23, 2012. The scheduled merger registration date is June 26, 2012, scheduled delivery date of new share certificates is July 18, 2012 and the scheduled listing date is July 19, 2012.

As of April 18, 2012, the general shareholder's meeting date, the creditors' submission date, the merger effective date, the scheduled merger registration date, scheduled delivery date of new share certificates, and the scheduled listing date will be decided later.

As of May 16, 2012, the merger ratio of Terraum and Lumensoft is changed to 1:14.8815895 and 31.61 million common shares will be issued in the merger. The general shareholder's meeting will now be held on July 2, 2012. The creditors can submit objections from July 3, 2012 to August 2, 2012. The merger is expected to be effective on August 3, 2012. The scheduled merger registration date is August 8, 2012, scheduled delivery date of new share certificates is August 29, 2012 and the scheduled listing date is August 30, 2012.

As of May 31, 2012, the general shareholder's meeting will now be held on July 23, 2012. The creditors can submit objections from July 25, 2012 to August 23, 2012. The merger is expected to be effective on August 24, 2012. The scheduled merger registration date is August 29, 2012, scheduled delivery date of new share certificates is September 19, 2012 and the scheduled listing date is September 20, 2012.

As of June 8, 2012, the merger ratio of Terraum and Lumensoft has been revised to 1: 13.5806304 and 28.84 million common shares will be issued in the merger. The transaction schedule was again revised on June 22, 2012. As per the revised schedule, the general meeting of shareholders is expected to be held on August 6, 2012 and the period of submission of objections from creditors is from August 8, 2012 to September 6, 2012. The transaction is expected to close on September 7, 2012. The scheduled registration date of merger is September 10, 2012, the scheduled delivery date of new share certificates is October 9, 2012, and the scheduled listing date of new shares is October 10, 2012.

As of June 29, 2012, the transaction terms and schedule was revised. The merger ratio of Terraum and Lumensoft has been revised to 1:11.4295499 and 24.27 million common shares will be issued in the merger. As per the revised schedule, the general meeting date of shareholders is August 13, 2012, the period of submission of objections from creditors is from August 15, 2012 to September 13, 2012, and the expected completion date is September 14, 2012. The scheduled registration date of merger is September 19, 2012, the scheduled delivery date of new share certificates is October 15, 2012, and the scheduled listing date of new shares is October 16, 2012.

As of July 10, 2012, the transaction terms and schedule was revised. The merger ratio of Terraum and Lumensoft has been revised to 1:11.0097146 and 23.38 million common shares will be issued in the merger. As per the revised schedule, the general meeting date of shareholders is August 28, 2012, the period of submission of objections from creditors is from August 28, 2012 to September 27, 2012, and the expected completion date is September 28, 2012. The scheduled registration date of merger is October 5, 2012, the scheduled delivery date of new share certificates is October 25, 2012, and the scheduled listing date of new shares is October 26, 2012. As of August 24, 2012, shareholders of Terraum Co., Ltd. approved the transaction in an extra ordinary shareholders' meeting held on August 24, 2012.

As of August 31, 2012, it was announced that the scheduled merger date of the transaction has been changed to October 2, 2012 and scheduled merger registration date to October 8, 2012.

Lumensoft Ltd. completed the acquisition of Terraum Co., Ltd. (KOSE:A042510) from Kiwoom Investment Co., Ltd. and others in a reverse merger transaction on October 2, 2012.