Bongki Shin and Pangaea I&C Co., Ltd. signed a stock sales/acquisition contract to acquire 11.87% stake in Topfield Co., Ltd. (KOSDAQ:A057880) from Top Networks Co., Ltd., Dong-Gun Seo Moon, Globulls and Jung-Lim Choi for KRW 14.1 billion on January 17, 2019. The offer per share is KRW 4000. Under the terms of the deal, Top Networks Co., Ltd. agreed to sell 1.8 million shares, Dong-Gun Seo Moon agreed to sell 0.6 million shares, Globulls agreed to sell 0.32 million shares and Jung-Lim Choi agreed to sell 0.85 million shares, Pangaea I&C Co., Ltd. will acquire 2.6 million shares and Bongki Shin will acquire 0.9 million shares of Topfield Co., Ltd. Pangaea I&C Co., Ltd. will pay KRW 1.1 billion as deposit on January 17, 2019 and the balance of KRW 9.5 billion on March 28, 2019. Bongki Shin will pay KRW 350 million as deposit on January 17, 2019 and the balance of KRW 3.2 billion on March 28, 2019. Entire 3.5 million shares of Topfield Co., Ltd. will be transferred as the balance is paid. An amendment contract is signed on January 31, 2019 and now Pangaea I&C Co., Ltd. agreed to acquire 11.84% stake in Topfield Co., Ltd. (KOSDAQ:A057880) from Top Networks Co., Ltd., Dong-Gun Seo Moon, Globulls and Jung-Lim Choi for KRW 14.1 billion. Bongki Shin will not be part of the contract now. Number of shares to be acquired will remain same i.e 3.52 million shares. A deposit of KRW 1.4 billion will be paid on January 17, 2019 and balance KRW 12.68 billion will be paid on March 28, 2019. The scheduled change date is March 28, 2019. As of March 27, 2019, an amendment was made stating a deposit of KRW 1.4 billion will be paid on January 17, 2019 and balance KRW 12.68 billion will be paid on expected date of extraordinary shareholders' meeting and specific date of the remainder payment date will be re-publicized when the date of the temporary shareholders' meeting is confirmed. On April 3, 2019, the terms of the transaction were amended. Pangaea I&C Co., Ltd. and Philosys Life Science Co., Ltd. signed an agreement to acquire 9.21% stake in Topfield Co., Ltd. (KOSDAQ:A057880) from Globulls, Top Networks Co., Ltd., Dong-Gun Seo Moon, and Jung-Lim Choi for KRW 11.4 billion. Pangaea I&C Co., Ltd. and Philosys Life Science Co., Ltd. will acquire 1.13% stake and 8.08% stake respectively. Out of total consideration, deposit of KRW 1.4 billion was paid by Pangaea I&C on January 17, 2019, KRW 1 billion was paid by Philosys Life Science on April 3, 2019 and remaining KRW 9 billion will be paid by Philosys Life Science on May 23, 2019. Philosys Life Science Co., Ltd. will be the largest shareholder upon completion. The transaction is expected to close on May 23, 2019. Philosys Life Science Co., Ltd. and Pangaea I&C Co., Ltd. completed the acquisition of 9.2% stake in Topfield Co., Ltd. (KOSDAQ:A057880) from Top Networks Co., Ltd., Dong-Gun Seo Moon, Globulls and Jung-Lim Choi on May 23, 2019.