Truwin Company Limited (KOSDAQ:A105550) signed an agreement to acquire the remaining 69.43% stake in Sirius Co., Ltd from Yonghyun Nam and others for KRW 6.1 billion on May 17, 2018. Under the terms, Truwin Company Limited will issue 0.87 million shares as consideration with an exchange ratio of 1: 2.2833608. As of June 4, 2018, the consideration was amended pursuant to which 0.81 million shares will be issued as consideration. Truwin Company Limited already holds 0.13 million shares (25.38%) of Sirius Co., Ltd. Post acquisition, Truwin Company Limited will continue to exist and Sirius Co., Ltd will cease to exist. For the year ended December 31, 2017, Sirius Co., Ltd reported sales of KRW 4.5 million and net loss of current period of KRW 845 million. As of December 31, 2017, Sirius Co., Ltd reported total assets of KRW 2.9 billion and net assets of KRW 2.5 billion. The transaction was resolved by the Board of Directors of Truwin Company Limited on May 17, 2018. The transaction was approved by the Boards of Directors of Truwin Company Limited and Sirius Co., Ltd. on June 20, 2018, substituting general meeting of shareholders. The transaction is expected to be completed on July 24, 2018. Delivery of new share certificates and listing date of new shares is scheduled on August 9, 2018 and August 10, 2018 respectively. Hanmi Accounting Corporation acted as an external rating institution in the transaction.