Service-In Co., Ltd. agreed to acquire 21.82% stake in PharmswellBio Co., Ltd. from Young-Jin Kwon, So-Young Kwon, Yoon-Tae Kwon, Soon-E Kim and Kyung-Sook Kwon. for KRW 16 billion.
January 22, 2013 at 11:00 pm
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Service-In Co., Ltd. agreed to acquire 21.82% stake in PharmswellBio Co., Ltd. (KOSE:A043090) from Young-Jin Kwon, So-Young Kwon, Yoon-Tae Kwon, Soon-E Kim and Kyung-Sook Kwon for KRW 16 billion on January 22, 2013. Service-In Co., Ltd. is acquiring 4.09 million shares of PharmswellBio Co., Ltd. representing 21.8% stake. As part of the consideration, deposit of KRW 500 million was paid to the sellers on the contract signing date and balance of KRW 15.5 billion will be paid to the selected account from the sellers on the first general meeting of shareholders come after the contract signing date when all requirements of the contract are completed. In order to receive the balance Service-In Co., Ltd. should put the balance amount in a financial agent signing a separate depository contract 3 days before general meeting of shareholders which is the balance payment date.
As of June 11, 2013, the payment of KRW 400 million was made on June 10, 2013. In order to compensate for damages, Service-In Co., Ltd. will pay KRW 600 million, of which KRW 500 million will be paid on June 13, 2013.
The Technology Co Ltd, formerly Exergy21 Co Ltd, is a Korea-based company mainly engaged in the distribution business. The Company manly operates its business through four segments. The Distribution Business segment engages in the food processors, luxury goods, healthy food, kitchen appliances and home shopping goods distribution business. The PM business segment provides consulting services for real estate development, licensing, and contractor selection. The Pharmaceutical segment engages in ethanol and disinfectant manufacture business. The Other segment provides business support services. The Company also engages in information technology (IT) services, artificial intelligence (AI) and drone based security solutions, as well as heat pump system provision business.
Service-In Co., Ltd. agreed to acquire 21.82% stake in PharmswellBio Co., Ltd. from Young-Jin Kwon, So-Young Kwon, Yoon-Tae Kwon, Soon-E Kim and Kyung-Sook Kwon. for KRW 16 billion.