Noble M&B Co., Ltd. (KOSDAQ:A106520) entered into a contract to acquire 29.5% stake in Noble Bio Co., Ltd. from Gye-seung Baek and Hyun-ok Kim for KRW 31 billion on November 26, 2021. Gye-seung Baek, Chief Executive Officer of Noble Bio Co., Ltd. will sell 3,900 shares of Noble Bio Co., Ltd. at KRW 5,254,238 per share and Hyun-ok Kim will sell 2,000 shares of Noble Bio Co., Ltd. at KRW 5,254,238 per share. An amount of KRW 3.1 billion will be paid on December 3, 2021, and the balance consideration of KRW 27.9 billion will be paid on December 10, 2021.

The consideration will be funded by holding funds. Noble Bio Co., Ltd. had total assets of KRW 115.5 billion and net assets of KRW 73.8 billion for the period ending third quarter of the year 2021. The Board of Directors of Noble M&B Co., Ltd. has resolved the deal on November 26, 2021.

The expected closing date of the transaction is December 10, 2021.