[Edaily Reporter Park Jung-Soo ] COPUS KOREA Co., Ltd.(322780)announced on the 29th that it had signed an agreement with Artist Studio and three other parties regarding a change in management control.
The transferor, largest shareholder Oh Young-seop, and one related party entered into a share purchase agreement on the 26th to sell a portion of their shares to Artist Studio and one other party. The company also decided to transfer management control through a new share issuance (5,716,461 shares) and the issuance of the 5th series of convertible bonds (17.5 billion won). Accordingly, the total consideration for the transfer is 28,199,990,000 won.
Upon completion of all agreements, Artist Studio will be registered as the largest shareholder of COPUS KOREA Co., Ltd. and will secure de facto management control. Through the share purchase agreement and the new share subscription agreement, Artist Studio is set to acquire a total of 2,405,487 shares, representing a 16.37% stake.
Furthermore, if Artist Studio exercises its conversion rights on 5.5 billion won worth of the 17.5 billion won convertible bonds, it will acquire an additional 3,062,360 shares (exercise price: 1,796 won). At that point, the total number of shares Artist Studio will hold will be 5,467,847, representing a 22.38% stake.