Tamul Multimedia Co., Ltd announced a private placement of 541,125 shares at a price of KRW 4,620 per share for gross proceeds of KRW 2,499,997,500 on December 20, 2018. The transaction will include participation form new investor, Wooriro Co., Ltd (KOSDAQ:A046970). The shares will be issued at a premium having a face value of KRW 500.

The shares will be issued through third party allotment method. Post the closing the number of shares will increase from 541,125 to 7,945,470. The shares will have a lock up period of one year.

The transaction has been approved by the board of directors of the company.