J. Stephen Lab., Ltd. acquired 99.2% stake in Xeonics Co., Ltd. from Eunsook, Cho, Jongsoo, Hwang, Changik, Jang, Hokyun, Song and Beopsun, Hong for KRW 11 billion.
June 11, 2019
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J. Stephen Lab., Ltd. (KOSDAQ:A096690) acquired 99.2% stake in Xeonics Co., Ltd. from Eunsook, Cho, Jongsoo, Hwang, Changik, Jang, Hokyun, Song and Beopsun, Hong for KRW 11 billion on June 12, 2019. As per the terms, J. Stephen will acquire 0.2 million shares and full payment will be done on contract conclusion date. Eunsook, Cho, Jongsoo, Hwang, Changik, Jang, Hokyun, Song and Beopsun, Hong will sell 30.67%, 25.84%, 20.88%, 10.88% and 10.88% stake for KRW 3.4 billion, KRW 2.9 billion, KRW 2.3 billion, KRW 1.2 billion and KRW 1.2 billion respectively. As of December 31, 2018, Xeonics Co reported total assets of KRW 9.9 billion, total capital of KRW 4.9 billion and net income of KRW 990 million. Gaul Accounting Corp acted as External Evaluation Body in the transaction.
J. Stephen Lab., Ltd. (KOSDAQ:A096690) completed the acquisition of 99.2% stake in Xeonics Co., Ltd. from Eunsook, Cho, Jongsoo, Hwang, Changik, Jang, Hokyun, Song and Beopsun, Hong on June 12, 2019.
ARoot Co Ltd, formerly J Stephen Lab Ltd, is a Korea-based company engaged in the manufacturing and sale of mini printers. The Company operates its business through three main segments. The Mini Printer Business segment manufactures and sells point of sale (POS) printers, which are used for receipts output, tickets issuing and lotteries output in department stores, hotels and restaurants; label printers, which are used in plants and distribution centers; mobile printers used for parking management, delivery-related industrials and sticker output, as well as printer mechanisms, which are used for credit card terminals, parking systems, kiosk banking systems and POS systems. The Distribution Business segment sells products such as bags and watches. The Electric Equipment Business segment is engaged in the manufacturing of power supply apparatuses and power converters.
J. Stephen Lab., Ltd. acquired 99.2% stake in Xeonics Co., Ltd. from Eunsook, Cho, Jongsoo, Hwang, Changik, Jang, Hokyun, Song and Beopsun, Hong for KRW 11 billion.
AROOT CO., LTD. 
