Vissem Electronics Co., Ltd. (KOSDAQ:A072950) signed a merger contract to acquire remaining 9.11% stake in Dongyang Telecom Co. Ltd for KRW 1.7 billion on April 22, 2016. The exchange ratio is 1: 0.1380938. Vissem Electronics Co., Ltd will issue 0.25 million shares as consideration. Vissem Electronics Co., Ltd. will be the surviving entity and Dongyang Telecom Co. Ltd. will be dissolved. The combined entity will be known as Vissem Electronics Co., Ltd. after the transaction. The transaction is subject to approval of Board of Directors of Vissem Electronics and Dongyang Telecom. The Board meeting of Vissem Electronics and Dongyang will be held on June 14, 2016. The Board of Vissem Electronics and Dongyang Telecom passed a resolution for the transaction on April 22, 2016. The creditors of Vissem Electronics can submit their objections from June 15, 2016 to July 16, 2016 and the creditors of Dongyang Telecom can submit their objections from June 9, 2016 to July 16, 2016. As of April 29, 2016, the scheduled listing date of new shares is August 10, 2016. As of June 23, 2016, 33.66% of the shareholders of Vissem Electronics Co., Ltd opposed the merger. The transaction is expected to be completed on July 21, 2016. The merger registration date is July 25, 2016. On May 24, 2016, an amendment agreement was signed. Under the agreement, the exchange ratio is 1: 0.0980479. On June 8, 2016 another amendment agreement was signed. Under the agreement, the exchange ratio is 1: 0.0979000. Merger opposition notice receipt duration is June 8, 2016 to June 22, 2016. Period of submission of objections from creditors is June 23, 2016 to July 25, 2016. End report general meeting date is scheduled on July 27, 2016. The deal is expected to close on July 26, 2016. Merger registration plan date is July 28, 2016. JungJin Accounting Corporation acted as the external rating institution. Vissem Electronics Co., Ltd. (KOSDAQ:A072950) cancelled the acquisition of remaining 9.11% stake in Dongyang Telecom Co. Ltd on June 23, 2016.