Fourth-link Inc. (KOSDAQ:A056730) agreed to acquire 95.3% stake in Timnet Korea Co., Ltd. from Hyuncheol Son for approximately KRW 12 billion on February 21, 2020. The deal value is payable in cash. The schedule of payment includes a deposit of KRW 1 billion on February 21, 2020, intermediate payment of KRW 6.5 billion, within 5 business days from the date of contract and the balance of KRW 4.5 billion will be made within 90 days. The date and time may be adjusted by agreement of the parties. The details of payment, etc. are subject to change according to progress. The deal value will funded with treasury funds and borrowings. As of June 30, 2019, Timnet Korea reported total assets of approximately KRW 22 billion and net assets of KRW 2.9 billion. The date of Board resolution for Fourth-link is February 21, 2020. The scheduled date of acquisition is February 21, 2020. As on March 6, 2020, the transaction is expected to be completed on May 21, 2020. Fourth-link Inc. (KOSDAQ:A056730) cancelled the acquisition of 95.3% stake in Timnet Korea Co., Ltd. from Hyuncheol Son on December 21, 2020. The contract is cancelled due to transferor's violation of the contract.