Osung Advanced Materials Co., Ltd. (KOSDAQ:A052420) agreed to acquire Rumi Technology & Loan CO.,LTD. from Lumimicro Co., Ltd (KOSDAQ:A082800) for KRW 33.7 billion on January 17, 2020. As per terms, 4 million shares will be acquired and KRW 3.4 billion will be paid on January 17, 2020 for 0.4 million shares, KRW 15.2 billion will be paid for 1.8 million shares on June 30, 2020 and balance amount of KRW 15.2 billion on October 30, 2020. As of October 21, 2020, balance amount of KRW 15.2 billion will be paid on October 21, 2020. Rumi Technology & Loan had total assets of KRW 39.2 billion and net assets of KRW 37.9 billion. Rumi Technology & Loan had revenues of KRW 2.3 billion and net loss of KRW 1.1 billion in 2019. The consideration will be paid through equity capital (holding funds). The Board of Directors of Osung Advanced Materials Co., Ltd. resolved the transaction on January 17, 2020. The date of sale was January 17, 2020. As of June 23, 2020, the date of sale is October 30, 2020. As of October 21, 2020, the expected date of completion is October 21, 2020.

Osung Advanced Materials Co., Ltd. (KOSDAQ:A052420) cancelled the acquisition of Rumi Technology & Loan CO.,LTD. from Lumimicro Co., Ltd (KOSDAQ:A082800) for KRW 33.7 billion on January 17, 2021.