Clover Hitech Co., Ltd. (KOSDAQ:A043590) agreed to acquire 25.98% stake in G2 Touch Co.,Ltd. from a group of sellers for KRW 6.1 billion on December 13, 2018. Under the terms of transaction, the buyer consortium will buy 0.85 million shares, which were converted from redeemable, preferred stocks and 0.83 million common stocks out of the existing stocks. In a related transaction, Clover Hitech Co., Ltd. will acquire 1.4 million new shares in increased paid in capital of G2 Touch Co.,Ltd. for KRW 4.5 billion. As of January 22, 2019, the number of G2 Touch Co.,Ltd.'s new shares to be subscribed for have been reduced from 1.36 million shares to 0.36 million shares to be acquired for KRW 1.2 billion. For the year ended December 31, 2017, G2 Touch Co.,Ltd. had total assets of KRW 7.7 billion, net assets of KRW 5.3 billion, sales of KRW 6.4 billion and net loss of KRW 5.6 billion. The Board has resolved the transaction. The transaction is scheduled to be completed by January 22, 2019.

Clover Hitech Co., Ltd. (KOSDAQ:A043590) completed the acquisition of 25.98% stake in G2 Touch Co.,Ltd. from a group of sellers on January 22, 2019. After the completion of the deal, Clover Hitech holds 60.55% stake in G2 Touch Co.,Ltd.